EMGS secures multi-client revenue in Norway
31 8월 2023 - 9:00PM
EMGS secures multi-client revenue in Norway
Electromagnetic Geoservices ASA ("EMGS" or the "Company") is
pleased to announce that the Company has secured approximately USD
1.0 million in revenue related to its existing multi-client library
in Norway.
The revenue is expected to be recognised in the third quarter of
2023.
Contact Anders Eimstad, CFO, +47 948 25 836
This information is published in accordance with the Norwegian
Securities Trading Act § 5-12.
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. CSEM technology can also be used to detect the
presence of marine mineral deposits (primarily Seabed Massive
Sulphides) and EMGS believes that the technology can also be used
to estimate the mineral content of such deposits. The Company is
undertaking early-stage initiatives to position itself in this
future market.
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