Electromagnetic Geoservices ASA

Related Party Transaction • Jan 20, 2017

EMGS - EMGS and TGS expand the cooperation in the Barents Sea

EMGS - EMGS and TGS expand the cooperation in the Barents Sea

Electromagnetic Geoservices ASA (EMGS) and TGS-NOPEC Geophysical Co ASA (TGS)

have agreed to expand the companies' cooperation agreement in the Barents Sea.

TGS will be investing in a 3D CSEM data acquisition project related to the 24th

licensing round in Norway. The contribution from TGS will be booked as a

reduction of the carrying value of EMGS' multi-client library.

In addition, EMGS reports late sales of multi-client data in Norway.

The above agreements total USD 2 million. This will be recognised in the first

quarter of 2017.

Contact

Hege Veiseth, EMGS Chief Financial Officer, +47 992 16 743

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 exploration experts 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,

Villahermosa, Rio de Janeiro and Kuala Lumpur.

For more information, visit www.emgs.com

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.