EMGS in Barents Sea and Norwegian Sea Data Sale

Electromagnetic Geoservices ASA (EMGS) has entered into two new data licensing agreements with two oil companies for the provision of 3D EM data.

The data will be provided from EMGS’ multi-client data library over the Barents Sea and the Norwegian Sea.

As EMGS reported, the contract is worth USD 1.6 million.

The multi-client revenues, which are a combination of pre-funding and late sales, will be booked in the third quarter 2015.

EMGS’ multi-client data in the Norwegian Sea covers the Ormen Lange area, the Nordland Ridge and basalt provinces in the Vøring and Møre Basins.

In the Barents Sea EMGS has approximately 50,000 km2 of 3D full azimuth multi-client data.

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