EMGS receives Letter of Award for Survey in India
15 1월 2025 - 8:50PM
UK Regulatory
EMGS receives Letter of Award for Survey in India
Electromagnetic Geoservices ASA ("EMGS" or the "Company") is
pleased to announce that the Company has received a Letter of Award
for a CSEM survey in India.
The survey is expected to have a contract value of approximately
USD 10 million, subject to the issuance of a callout order. The LOA
does not include a minimum scope of work. The Atlantic Guardian
will commence acquisition following completion of the previously
announced survey in India.
The Company expects the final contract execution to take place
within the next several weeks.
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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