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ElectroMagnetic GeoServices Stage: Venture Date of Investment: 2004 Web Site : http://www.emgs.com Stock Symbol : OSE: EMGS |
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ElectroMagnetic GeoServices (emgs) is an early stage technology company (Trondheim, Norway) that has developed a proprietary technology known as Sea Bed Logging (SBL) that allows oil exploration companies to identify hydrocarbon bearing reservoirs in offshore basins prior to drilling. By transmitting electromagnetic waves into the subsurface, SBL characterizes the fluids (seawater versus hydrocarbons) within potential reservoirs. The company provides a broad range of services including survey planning, acquisition, processing and interpretation of SBL data. To date, emgs has performed more than 200 commercial surveys for more than 35 customers, including many of the world’s international and national oil companies with remarkable predictive success. The emgs seabed-logging fleet now comprises four vessels operating with a fifth vessel under construction. Given this success, the company believes this tool will be widely adopted by offshore oil and gas companies and used in all phases of exploration and production processes. In 2004, Warburg Pincus and management acquired emgs from Statoil, the Norwegian state oil company, and in 2007, emgs completed its Initial Public Offering on the Oslo Stock Exchange (OSE: EMGS).
