Marine EM Strategic Alliance04/05/2009 |
| Electromagnetic Geoservices ASA (EMGS) has entered into a global cooperation agreement with Fugro. The agreement is in effect through 2011. Fugro will gain full access to EMGS's marine EM methods for hydrocarbon exploration and production, and EMGS will gain access to Fugro's worldwide marketing network and marine operating expertise. |
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Both companies have also entered into a non-exclusive worldwide multi-client cooperation agreement, as well as a non-exclusive global technology licensing agreement.
As a part of the agreement, Fugro has provided a NOK150 million secured convertible loan bearing interest at 7.00% p.a. to EMGS. The loan can at any time be converted into common shares in EMGS at the conversion price of NOK5.75 until the maturity date on 2nd January 2012.
Supplier: EMGS AS More news from this supplier: EMGS - Fugro Multi-Client Project EMGS Awarded 3D EM Survey Second Purpose-built 3D EM Vessel EMGS Reorganises Shell Awards 3D EM Survey EMGS Signs Gobal Frame Agreement Patent Dispute Decision and Strategic Review First Purpose-Built EM Survey Vessel Barents Sea Multi-client EM Survey EMGS Achieves 70 Trillion Calculations per Second Finistere and Mediterranean Bathymetric Lidar Surveys Precise Positioning For BP Vessels DP Inertial Navigation System for Drillship Plug-and-work Protocol Adopted Simulator Models Complex Sea Currents Monitoring the Shipwrecked Concordia New Australian Marine Research Vessel under Construction Mars-bound Instrument Detects Solar Burst's Effects Europeans Trained in Understanding Space Weather US Estimate: 15% Wave and Tidal Power by 2030 
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