EMGS (OSL:EMGS) Awarded USD 7.5 Million Contract To Perform 3D EM Surveys In Malaysia

EMGS (OSL:EMGS) Electromagnetic Geoservices ASA (EMGS) has been awarded a contract worth about USD 7.5 million to use its Clearplay Test service to rank several hydrocarbon prospects offshore Malaysia. The 3D electromagnetic (EM) surveys will start shortly. Terje Eidesmo, EMGS chief executive officer, commented: "Our services provide rapid, accurate ranking of hydrocarbon prospects in offshore locations. Testing these prospects with EM technology significantly reduces the likelihood of drilling dry wells, which in turn means reduced commercial risk for this repeat customer." The prospects will be targeted by towing an EM source over receivers placed 1 - 2 km apart in a grid. The wide-azimuth, 3D EM data will then be processed to create resistivity maps and volumes. "More of our customers are turning to survey layouts where the receivers are placed in a grid rather than in lines, and this trend will accelerate in the future. These 3D EM surveys provide data for the entire prospect, not just a limited part. The result is a much clearer and more complete understanding of the subsurface and an improved estimation of the hydrocarbon volume. This is of great benefit to our customers," said Eidesmo.

Contacts Svein Knudsen, EMGS chief financial officer, +47 22 01 14 00 Chris Guldberg, EMGS PR manager, +47 73 56 88 10

About EMGS EMGS uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. The company is the EM market leader and provides Clearplay, the world's first fully integrated EM system. Three service offerings - Clearplay Find, Test and Evaluate - have been designed to assist operators in the exploration and production phase. Clearplay supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The 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 risk and finding costs per barrel. EMGS operates the world's largest EM survey vessel fleet and has conducted more than 400 surveys, improving 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.

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EMGS

http://www.emgs.no/

ISIN: NO0010358484

Stock Identifier: XOSL.EMGS