Norway: EMGS Pleased with 22nd Licensing Round Results, CEO Says

The Ministry of Petroleum and Energy announced the award of new licenses in the 22nd Licensing Round on the Norwegian Continental Shelf.

Based on these awards, EMGS expects to realize uplift revenues of approximately USD 9 million from data-licensing agreements related to the company’s multi-client library in the Barents Sea.

The uplift revenues are subject to EMGS customers’ formal approval of the awards offered by the Ministry of Petroleum and Energy.

“We are very pleased with the results of the 22nd licensing round and see significant late-sales potential owing to our extensive and well-positioned data library in the Barents Sea,” said Roar Bekker, CEO of EMGS.

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Press Release, June 13, 2013; Image: EMGS