EMGS, TGS Expand Cooperation in Barents Sea

Electromagnetic Geoservices ASA (EMGS) and TGS have agreed to expand the cooperation agreement, as described in the stock exchange notice dated 23 May 2013, in the Barents Sea from 11 to 17 blocks. In addition, TGS will increase its investment in all the 17 blocks.

“The expansion of this agreement confirms our strategy to integrate our 3D EM data with seismic data and sell this as a combined dataset. We are encouraged by TGS’ interest in our library and look forward to further develop our relationship with TGS,” says Roar Bekker, CEO of EMGS.

The multi-client surveys are already completed. The contribution from TGS will amount to around USD 3.4 million and will be booked as a reduction of the carrying value of EMGS existing multi-client library in the fourth quarter 2013.

Press Release, December 23, 2013

 

Share this article

Follow Subsea World News

Events>

<< Apr 2020 >>
MTWTFSS
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 1 2 3

9th Annual Submarine Power Cable and Interconnection Forum

This year’s Advance Submarine Power Cable and Interconnection conference will focus on the cutting edge thinking that is emerging across…

read more >

The 24th Annual PNEC Conference & Exhibition

The 24th annual PNEC Conference and Exhibition  will bring together the industry thought leaders and technology providers that enable the management…

read more >

OWI APAC 2020

Over the two-day conference, 30 expert speakers will share exclusive insight to help drive well work efficiencies through innovative…

read more >

M&CCE Expo Marine & Coastal Civil Engineering 2020

This conferences, events, demos, and competitions provide a productive background buzz throughout M&CCE…

read more >