Status on Barents Sea multi-client sales
(Thomson Reuters ONE) -
Electromagnetic Geoservices ASA (EMGS) announced today that it has secured late-
sales worth approximately USD 4 million for its multi-client 3D EM data in the
Barents Sea, ahead of Norway's 21st exploration licensing round. These revenues
will be recognised in the third quarter of 2010.
Industry pre-funding and late-sales year-to-date totals approximately USD 10
million, of which USD 6 million were recognised in the second quarter of 2010.
EMGS's multi-client data library in the Barents Sea covers more than 16,000 km2
of workstation-ready 3D EM data that can be integrated with other subsurface
measurements for immediate analysis and evaluation of potentially prospective
areas. Further sales in the form of late-sales and contractual uplifts are
expected.
Contact
Roar Bekker, EMGS chief executive officer, +47 22 01 14 00
Svein Knudsen, EMGS chief financial officer, +47 22 01 14 00
Carl Hutchins, EMGS president multi-client group +1 713 819 4883
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 500 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 Stavanger, Norway; Houston,
USA; and Kuala Lumpur, Malaysia. Please visit www.emgs.com for more information.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1448788]
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Source: EMGS via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 04.10.2010 - 12:10 Uhr
Sprache: Deutsch
News-ID 44020
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contact information:
Town:
Trondheim
Kategorie:
Business News
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"Status on Barents Sea multi-client sales"
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