EMGS in Barents Sea 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 related to the 23(rd) licensing round in the Barents Sea.

The company says that the agreement is worth $2.5 million, before potential adjustment for partner’s share of revenues.

EMGS’ multi-client data library in Norway now covers 44,000 km2 in the Barents Sea, in addition to approximately 10,000 km2 in the Norwegian Sea and 1,400 km2 in the North Sea.

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