News
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EMGS and BOA agree on new terms for the charter agreements for the BOA vessels
Electromagnetic Geoservices ASA (EMGS) has signed an extended charter agreement for the vessel BOA Thalassa with BOA SBL AS (owner of the vessel) at new and improved commercial terms. The new terms are valid as of 30 September 2015.
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EMGS announce additional cost reductions
Electromagnetic Geoservices ASA (EMGS) announces that the Company implements additional cost reduction measures reflecting the challenging market conditions in the oil service industry.
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EMGS signs agreement with Directorate General of Hydrocarbons in India
Electromagnetic Geoservices ASA (EMGS) is pleased to announce that the Company has signed a multi-client acquisition agreement with the Directorate General of Hydrocarbons (DGH) in India. The agreement grants EMGS a two year permit to acquire 3D EM multi-client data within a 325,000 square km area off West coast India, crossing eight different tectonic provinces from Kutch-Saurashtra in North to Ratnagiri in South.
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Prospectivity evaluation with 3D CSEM published in First Break
Daniel Baltar and Neville Barker describe a method to update a prospect’s existing evaluation with 3D CSEM data. The resulting improvement to risk and volume assessments enables operators to reduce uncertainty and meliorate investment decisions.
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Stig Eide Sivertsen appointed CEO of EMGS
Bjarte Bruheim has decided to step down as Chief Executive Officer of Electromagnetic Geoservices ASA with immediate effect. He has held this position since 7 January 2015, and before that, he held the position as the company's executive chairman since 2004. The board of directors wishes to express its gratitude to Bjarte Bruheim for his valuable contribution to the company through many years.
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EMGS reports second quarter 2015 results
Electromagnetic Geoservices ASA (EMGS) recorded revenues of USD 12.1 million in the second quarter 2015, down from 32.3 million in the previous quarter and from USD 42.5 million in the second quarter 2014. Contract sales ended at USD 4.8 million, while sales from the multi-client library ended at USD 7.3 million.