Electromagnetic Geoservices ASA

Regulatory Filings • Jun 28, 2019

EMGS: Proprietary acquisition for BP

EMGS: Proprietary acquisition for BP

Electromagnetic Geoservices ASA ("EMGS" or the "Company") is pleased to announce

that it has been awarded a contract from BP for a proprietary CSEM survey,

offshore Senegal and Mauritania.

The contract has a total value of approx. USD 6 million.

Acquisition is expected to start in the first quarter of 2020.

CEO of EMGS, Bjørn Petter Lindhom comments:

"EMGS is delighted to return to Africa and for the opportunity to work for BP

and partners on their high-profile acreage in Mauritania and Senegal. This

contract extends our already healthy backlog and puts us in a good position to

secure additional work in the prolific MSGBC Basin and in West Africa."

Contact

Hege Veiseth, CFO, +47 99 21 67 43

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

the 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 operates on a worldwide basis with offices in Trondheim, Oslo, Houston,

Mexico City, Rio de Janeiro and Kuala Lumpur.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act