EMGS Customer Acquires 3D EM Multi-Client Library in Norway

Electromagnetic Geoservices ASA (EMGS) has entered into a data-licensing agreement worth approximately USD 8 million with an oil and gas company, in which the customer will gain access to EMGS’s entire 3D EM multi-client data library on the Norwegian Continental Shelf (NCS).

The agreement includes pre-funding of the ongoing Barents Sea multi-client program and late-sales of previously acquired 3D EM data, excluding data previously licensed by the customer and future EMGS multi-client projects. 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.

“More and more customers are seeing the value of integrating 3D EM data over an extensive area with seismic and other subsurface measurements. This portfolio approach not only enhances geological basin understanding and reduces drilling risk, it has also proven to generate new leads that would not have been identified using traditional exploration tools alone,” says Roar Bekker, EMGS chief executive officer.

EMGS’s data library in the Barents Sea will upon completion of this year’s program cover 22,000 km2, or 69 blocks.

Subsea World News Staff , June 25, 2012;  Image: EMGS

Share this article

Follow Subsea World News

Events>

<< Apr 2017 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

3rd Deepwater East & Southern Africa Congress 2017

The past successful two series has gathered around 600 industrial professionals, while most of which thought this event informative and useful…

read more >

Offshore Technology Conference (OTC) 2017

The Offshore Technology Conference (OTC) is where energy professionals meet to exchange ideas and opinions to advance scientific…

read more >

OFFSHORE WIND CONNECTIONS 2017

The focus of OWC2017 is on the Yorkshire and the Humber region, which is at the epicentre of the offshore wind industry, and where billions…

read more >

19th Asia Oil and Gas Conference (AOGC 2017)

A high level congregation that needs no introduction, the Event brings forth strategic discourses from global industry captains…

read more >