EMGS : EMGS awarded major 3D EM contract Electromagnetic Geoservices ASA (EMGS) is pleased to announce that it has been awarded a contract worth approximately USD 100 million by one of the world's largest oil companies. It is expected that 3D electromagnetic (EM) data acquisition will start in early September 2013, following mobilisation of the vessel BOA Galatea in the second half of August. "We are delighted to have won this contract which provides us with a substantially improved order book," said Roar Bekker, CEO of EMGS. "Today's contract award, which is the third largest within marine EM, is an endorsement of our operational and technological capabilities. More importantly, it confirms the value of integrating 3D EM data in the exploration workflow. We look forward to further developing our relationship with this repeat customer." The customer has indicated that the contract will be formally finalised and signed within approximately three weeks. Contact Roar Bekker, EMGS chief executive officer, +47 22 01 14 00 Svein Knudsen, EMGS chief financial officer, +47 22 01 14 00 Chris Guldberg, EMGS Head of PR/IR, +47 73 56 88 10 / +47 92 81 07 07 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 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 has conducted more than 700 surveys to improve drilling success rates across the world's mature and frontier offshore basins. The company operates on a worldwide basis with main offices in Trondheim and Oslo, Norway; Houston, USA; and Kuala Lumpur, Malaysia. Please visit www.emgs.com for more information. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. ------------------------------------------------------------------------------ This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: EMGS via Thomson Reuters ONE HUG#1712368
EMGS : EMGS awarded major 3D EM contract
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