"The expansion of this agreement confirms our strategy to integrate our 3D EM data with seismic data and sell this as a combined dataset. We are encouraged by TGS's interest in our library and look forward to further developing our relationship with TGS," said Roar Bekker, CEO of EMGS.

The multi-client surveys are already completed. The contribution from TGS will amount to approximately USD 3.4 million and will be booked as a reduction of the carrying value of EMGS's existing multi-client library in the fourth quarter 2013.

Contacts

Roar Bekker, EMGS chief executive officer, +47 7356 8810
Svein Knudsen, EMGS chief financial officer, +47 7356 8810
Charlotte Knudsen, EMGS head of investor relations, +47 97 56 19 59

For more information about the cooperation agreement, reference is made to today’s news release and the stock exchange notice dated 23 May 2013.