EMGS bags $3.5 million from data licensing deals

  • Business & Finance
One of EMGS’ 3D EM vessels (For illustration only)

Electromagnetic Geoservices (EMGS) has entered into agreements with oil companies involving data licensing (late sales) related to 3D CSEM data from the Norwegian Sea and Barents Sea library.

According to EMGS, the agreements for the data library represents revenues of approximately $3.5 million.

This is the third announcement regarding 3D EM data licensing in quick succession. Namely, the company won deals worth $5.7 million in March alone.

The first batch of agreements, which was worth $2 million, involved data licensing as well as processing and interpretation services related to 3D EM data in Norway and Mexico.

Furthermore, the deals announced on March 24 were for 3D data licensing in the Barents Sea and were worth $3.7 million.

Offshore Energy Today Staff

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