Letter of Intent results in fully prefunded multi-client survey in Norway
2024年2月28日 - 5:50PM
RNSを含む英国規制内ニュース (英語)
Letter of Intent results in fully prefunded multi-client survey in
Norway
Reference is made to the stock exchange notification published
by Electromagnetic Geoservices ASA ("EMGS" or the "Company") on 9
February 2024, wherein EMGS announced that the Company had received
a Letter of Intent from Equinor for a fully prefunded multi-client
survey in the North Sea.
The Company is pleased to announce that the survey has now been
awarded, with a contract value of approximately USD 2.0
million.
The fully prefunded survey is expected to commence early March
2024.
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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