EMGS makes further operational cost reductions

Offshore staff

TRONDHEIM, Norway – Electromagnetic Geoservices ASA has made additional cost reductions in its operations including dropping one vessel.

This comes following cuts earlier in the year in 1Q 2015 and also 2Q 2015.

The company expects that the additional cost reductions will reduce the annual operational cost by $35 million. Hence, the results from the total reductions implemented in 2015 are expected to amount to $70 million, reducing the annual operational cost level to less than $100 million.

09/30/2015

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