Norwegian geophysical services company, Electromagnetic Geoservices (EMGS) has entered a data licensing agreement with an international oil company.
While EMGS did not name the client, in a statement on Friday it said the deal was for the provision of 3D EM data from the multi-client data library over the Foz de Amazonas and Ceara basins in Brazil worth a total of $4.1 million.
The Norway-based company in November reported a net loss for the quarter and announced the appointment of a new CEO. Christiaan A. Vermeijd the new CEO, and a former Fugro employee, will assume his new position at the start of 2016.