EMGS Enters New Agreements for Barents Sea Data

Electromagnetic Geoservices ASA (EMGS) has entered into three new data licensing agreements with oil companies for the provision of 3D EM data from EMGS’ multi-client data library in the Barents Sea.

The agreements are worth a total of USD 3.7 million gross, whereas EMGS will receive USD 2.6 million net after adjustment for partner’s share of revenues.

EMGS has >50,000 km2 of 3D full azimuth Multi-Client data in the Barents Sea.

According to the company’s website, 24 clients (65% of companies active in the Barents Sea) have licensed EMGS’s Barents Sea Multi-Client data to identify significant volumes, validate AVO ambiguities and assess charge and seal risk.

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