Electromagnetic Geoservices ASA (EMGS) is pleased to confirm that a firm contract has been entered into with an oil company in Malaysia.
This contract confirms the provisional agreement announced in the stock exchange notice of 1 November 2016. As previously announced, this contract extension is worth approximately USD 8 million. The agreement relates to a 3D EM data acquisition offshore Sabah, East Malaysia. The vessel BOA Thalassa will perform the survey which is estimated to take approximately two months with an expected completion date early January 2017.
Hege Veiseth, CFO, +47 99 21 67 43