EMGS in Barents Sea 3D EM data sale

  • Business & Finance

Electromagnetic Geoservices ASA (EMGS) has entered into a data licensing agreement with an oil company for the provision of 3D EM data from EMGS’ multi- client data library in the Barents Sea.

EMGS did not reveal the name of the company it is entering into a data licensing agreement with, but it did reveal that the agreement is worth approximately $3 million.

The data will be delivered in March 2015 and the company will therefore book the full amount as late sales in the first quarter 2015.

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