Electromagnetic Geoservices ASA ("EMGS" or the "Company") is pleased to announce
that it has entered into a framework contract with an existing customer for
licensing of multi-client data from the Company's international multi-client
library.
There are no minimum licensing commitments for the customer under the framework
contract. However, based on the information currently available, EMGS believes
that the contract will result in late sales during 2H 2021 with a total value
between USD 2.5 and USD 3.0 million.
Contact
Anders Eimstad, Chief Financial Officer, +47 948 25 836
About EMGS
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.
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act