Voim ASA 2016 AR2
The report highlights Electromagnetic Geoservices ASA's (EMGS) performance during the challenging fiscal year 2016, marked by significant cost-reduction measures, including a 43% reduction in global headcount and fleet downsizing to two vessels. Despite a decline in total revenues to USD 44.5 million due to reduced oil company spending, EMGS advanced its technology through the Joint Industry Project (JIP) for Next Generation EM equipment, successfully testing a prototype offshore Norway. The company also settled its long-standing patent litigation with PGS and expanded its multi-client library, particularly in Norway, which accounted for 51% of total revenues.
Company: Voim ASA
Sector: Professional & technical services
Country: Norway
Year: 2016
Type: AR2
Pages: 106
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Voim ASA
Annual Report
The report highlights Electromagnetic Geoservices ASA's (EMGS) performance during the challenging fiscal year 2016, marked by significant cost-reduction measures, including a 43% reduction in global headcount and fleet downsizing to two vessels. Despite a decline in total revenues to USD 44.5 million due to reduced oil company spending, EMGS advanced its technology through the Joint Industry Project (JIP) for Next Generation EM equipment, successfully testing a prototype offshore Norway. The company also settled its long-standing patent litigation with PGS and expanded its multi-client library, particularly in Norway, which accounted for 51% of total revenues.
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Document Details
Report Year
2016
Reporting Period
Jan 1, 2016 - Dec 31, 2016
Fiscal Year
2016
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Materiality Assessment
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
Women on Board
Women in Management
Employees