EMGS enters prefunding agreements for Norwegian surveys

Norway’s Electromagnetic Geoservices (EMGS) has entered into prefunding agreements related to 3D CSEM data surveys in the Barents Sea and Norwegian Sea in Norway using the conventional technology and the new Deep Blue source.

The agreements represent revenues of approximately $3 million and the data will be acquired during the 2017 summer season, the company informed on Friday.

The company also announced that the original JIP agreement has been amended wherein the Deep Blue source is now available to the industry.

According to the company, the Deep Blue source provides a significantly higher output when compared to the conventional system.

Christiaan Vermeijden, EMGS CEO, said: “After the successful JIP test surveys during the summer of 2016, we are very pleased to see the first commercial uptake of the new equipment. Providing the industry with a much stronger source output is a breakthrough for EMGS and our EM technology as we will be more sensitive to deeper targets and smaller targets close to infrastructure.”

Almost a month ago, the company entered into agreements with oil companies involving data licensing (late sales) related to 3D CSEM data also from the Norwegian Sea and Barents Sea library and only several days ago the company entered into various agreements with oil companies involving data licensing related to 3D EM data in the Norwegian Sea and Barents Sea in Norway.

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