Electromagnetic Geoservices ASA 2019 AR2
The report highlights Electromagnetic Geoservices ASA's (EMGS) performance in 2019, achieving high vessel utilization of 59% and strong revenues of USD 89.4 million, up from USD 31.6 million in 2018. The company continued its focus on cost control and commercialized its DeepBlue source system, the most powerful deep-towed electromagnetic source in the industry. EMGS also expanded its cloud computing services and released new software for rock physics modeling. However, subsequent events in early 2020, including the Covid-19 pandemic and oil price collapse, led to the initiation of a low-cost set-up and significant workforce reductions.
Company: Electromagnetic Geoservices ASA
Sector: Energy
Country: Norway
Year: 2019
Type: AR2
Pages: 109
Electromagnetic Geoservices ASA
Annual Report
The report highlights Electromagnetic Geoservices ASA's (EMGS) performance in 2019, achieving high vessel utilization of 59% and strong revenues of USD 89.4 million, up from USD 31.6 million in 2018. The company continued its focus on cost control and commercialized its DeepBlue source system, the most powerful deep-towed electromagnetic source in the industry. EMGS also expanded its cloud computing services and released new software for rock physics modeling. However, subsequent events in early 2020, including the Covid-19 pandemic and oil price collapse, led to the initiation of a low-cost set-up and significant workforce reductions.
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Document Details
Report Year
2019
Reporting Period
Jan 1, 2019 - Dec 31, 2019
Fiscal Year
2019
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
Workplace Fatalities
Employees