Electromagnetic Geoservices ASA
("EMGS" or the "Company") has entered into
multi-client licensing agreements related to its multi-client library in Norway
These agreements represent combined revenues of approximately USD 4 million
whereof the majority of the revenue is related to late sales from the Company's
existing multi-client library.
The Company expects to recognise these revenues in the fourth quarter of 2018.
, CFO, +47 992 16 743
EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM)
technology to support oil and gas companies in their search for offshore
hydrocarbons. EMGS supports each stage in the workflow, from survey design and
data acquisition to processing and interpretation. The Company's services enable
the integration of EM data with seismic and other geophysical and geological
information to give explorationists a clearer and more complete understanding of
the subsurface. This improves exploration efficiency and reduces risks and the
finding costs per barrel.
EMGS operates on a worldwide basis with offices in Trondheim, Oslo
, Rio de Janeiro
and Kuala Lumpur
For more information, visit www.emgs.com
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by West Corporation
on behalf of West Corporation
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: EMGS via GlobeNewswire
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