EMGS in $4 Mln Data Sale

  • Business & Finance

Oslo-listed Electromagnetic Geoservices ASA (EMGS) has signed two new data licensing agreements with two unnamed oil companies for the provision of 3D EM data from EMGS’ multi-client data library in the Barents Sea.

According to Norway’s survey contractor, the deals are worth USD 4 million, net after adjustment for partner’s share of revenues.

In accordance with the company’s multi-client data library update, EMGS’s in Norway now covers 44,000 square kilometers in the Barents Sea, in addition to approximately 10,000 square kilometers in the Norwegian Sea and 1,400 square kilometers in the North Sea.

The company did not disclose when the data will be delivered.

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