Electromagnetic Geoservices ASA (EMGS), a Norwegian geophysical company, has entered into a new data licensing agreement with an oil company for the provision of 3D EM data.
According to EMGS, the data is from its multi-client data library over the Barents Sea and the contract is worth $1.1 million. EMGS did not reveal the name of the client.
However, the company did add that the multi-client revenues, which are a combination of pre-funding and late sales, will be booked in the third quarter 2015.
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