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EMGS Receives Contract Related to Previously Announced Letter of Award for Survey in India
Globenewswireยท 2025-03-24 17:00
Group 1 - The company, Electromagnetic Geoservices ASA (EMGS), has signed a final contract for a CSEM survey in India, with a contract value of approximately USD 10 million, consistent with previous expectations [1] - The contract follows a Letter of Award received by the company on 15 January 2025, indicating a successful progression from initial award to final contract signing [1] Group 2 - EMGS is a leader in the marine electromagnetic (EM) market, utilizing proprietary technology to assist oil and gas companies in offshore hydrocarbon exploration [3] - The company's services encompass the entire workflow from survey design and data acquisition to processing and interpretation, enhancing exploration efficiency and reducing costs [3] - EMGS is also exploring the application of CSEM technology for detecting marine mineral deposits and estimating their mineral content, positioning itself for future market opportunities [3]