EMGS in two 3D EM Barents Sea data sales

  • Business & Finance

Norwegian Electromagnetic Geoservices ASA (EMGS) has entered into data licensing agreements with two new customers for the provision of 3D EM data from the multi-client data library over the Barents Sea.

EMGS did not disclose the names of the oil companies it entered into agreements with, but it did say that the agreements were worth a total of $4.1 million.

The Norwegian company also said that it would receive $2.6 million net after adjustment for partner’s share of revenues.

EMGS’ multi-client data library in Norway 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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