Electromagnetic Geoservices ASA (EMGS) confirmed that a firm contract has been entered into with an oil company in Malaysia.

This contract confirms the provisional agreement announced in the stock exchange notice of 1 November 2016. As previously announced, this contract extension is worth approximately USD 8 million.

The agreement relates to a 3D EM data acquisition offshore Sabah, East Malaysia. The vessel BOA Thalassa will perform the survey which is estimated to take approximately two months with an expected completion date early January 2017.