Despite the uncertain market outlook for oil services, EMGS remains focused on fulfilling existing offshore electromagnetic services contracts, the company said in its latest results statement.
Offshore staff
TRONDHEIM, Norway – Despite the uncertain market outlook for oil services, EMGS remains focused on fulfilling existing offshore electromagnetic services contracts, the company said in its latest results statement.
Another priority is realizing near-term late sales from its multi-client library and securing an acquisition backlog for H1 2021.
At the same time, EMGS will pursue further cost reduction measures, but warned that if certain payments due do not come through within a certain timeframe, it may not be able to continue to operate.
However, it is also positioning itself to be able to capitalize on the upturn in the market, when that might come, with a more streamlined organization.
