EMGS in Barents Sea Data Sale

Electromagnetic Geoservices ASA (EMGS) has entered into a data licensing agreement with an international oil company worth USD 3.7 million, after adjustment for partner’s share of the revenues, for the provision of 3D EM data from EMGS’ multi-client data library in the Barents Sea.

The multi-client revenues will be booked in the third quarter 2014.

EMGS’ multi-client data library in the Barents Sea now covers 42,000 km2, in addition to approximately 10,000 km2 in the Norwegian Sea and 1,400 km2 in the North Sea.

Previous to this agreement, EMGS has signed a data licensing agreement with a customer worth USD 3.5 million for the provision of 3D EM data from EMGS’s multi-client data library in the Barents Sea.

Related:

EMGS Sells Barents Sea Multi-Client Data

Press Release, October 01, 2014