Electromagnetic Geoservices ASA

EMGS: Contract award

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

that the Company has been awarded a 3D CSEM contract in Southeast Asia. This is

EMGS's first CSEM data acquisition contract with this customer.

The Company expects that the acquisition will take place in the beginning of Q3

2021. The expected contract value is between USD 6 and 7 million, dependent on

certain options for the customer.

The survey will be acquired using the Atlantic Guardian following the multi-

client acquisition in Mexico. This will necessitate a rescheduling of the

previously announced prefunded Utsira High multi-client survey in Norway until

early Q4 2021.

Contact

Anders Eimstad, Chief Financial Officer, +47 94 82 58 36

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.

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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