Electromagnetic Geoservices ASA

Regulatory Filings • Dec 2, 2014

EMGS - Multi-client agreement with Statoil

EMGS - Multi-client agreement with Statoil

Electromagnetic Geoservices ASA (EMGS) has entered into a data licensing

agreement with Statoil ASA worth USD 10 million for the provision of 3D EM data

from EMGS' multi-client data library in Norway. After adjustment for partner's

share of the revenues, EMGS net revenue will amount to approximately USD 7

million.Of this, approximately USD 6 million will be booked in the fourth

quarter 2014.

The package includes data of recent vintages and various basins. Through this

agreement Statoil is significantly extending its current EM data library from

EMGS.

EMGS' multi-client data library in the Barents Sea now covers 42,000 km2, in

addition to approximately 10,000 km2 in the Norwegian Sea and 1,400 km2 in the

North Sea.

Contacts

Charlotte Knudsen, Head of investor relations, +47 97561959

Roar Bekker, EMGS chief executive officer, +47 911 41 149

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 main offices in Trondheim and Oslo,

Norway; Houston, USA; and Kuala Lumpur, Malaysia.

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.

[HUG#1875842]