EMGS, OMV Signs Barents Sea 3D EM Deal

  • Business & Finance

Electromagnetic Geoservices ASA (EMGS) has signed a data licensing agreement with OMV Norge AS worth around USD 4 million for the provision of 3D EM data from EMGS’s multi-client data library in the Hoop area in the Barents Sea.

EMGS, OMV Signs Barents Sea 3D EM Deal

 

In addition, the agreement contains an uplift model whereby EMGS will receive an undisclosed sum if the customer is awarded blocks in future licensing rounds in Norway.

“Following the Wisting discovery in September we have experienced an increased interest in our data from the Barents Sea,” says Roar Bekker, CEO of EMGS.

EMGS’s data library in the Barents Sea now covers more than 30,000 km2, including approximately 110 blocks of which 57 are open blocks.

[mappress]
Press Release, December 04, 2013

 

 

Related news

List of related news articles