UK Markets close in 3 hrs 20 mins
  • FTSE 100

    7,876.66
    +39.95 (+0.51%)
     
  • FTSE 250

    20,301.48
    -107.90 (-0.53%)
     
  • AIM

    881.76
    -2.03 (-0.23%)
     
  • GBP/EUR

    1.1187
    -0.0019 (-0.17%)
     
  • GBP/USD

    1.1976
    -0.0048 (-0.3952%)
     
  • BTC-GBP

    19,218.63
    +11.13 (+0.06%)
     
  • CMC Crypto 200

    529.12
    +3.98 (+0.76%)
     
  • S&P 500

    4,111.08
    -25.40 (-0.61%)
     
  • DOW

    33,891.02
    -34.99 (-0.10%)
     
  • CRUDE OIL

    75.18
    +1.07 (+1.44%)
     
  • GOLD FUTURES

    1,882.90
    +3.40 (+0.18%)
     
  • NIKKEI 225

    27,685.47
    -8.18 (-0.03%)
     
  • HANG SENG

    21,298.70
    +76.54 (+0.36%)
     
  • DAX

    15,336.58
    -9.33 (-0.06%)
     
  • CAC 40

    7,146.19
    +9.09 (+0.13%)
     

EMGS secures multi-client revenues in Norway

EMGS
EMGS

Electromagnetic Geoservices ASA ("EMGS" or the "Company") is pleased to announce that the Company has secured approximately USD 1.7 million in revenue from late sales related to its existing multi-client library in the Barents Sea.

The revenue is expected to be recognised in the first 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.