Electromagnetic Geoservices ASA (EMGS) has entered into agreements involving data licensing related to 3D EM data in the Barents Sea, offshore Norway.
EMGS, a Norwegian provider of electromagnetic survey services for the oil and gas industry, said that the agreements entailed prefunding and late sales and would bring revenues of around $3.7 million.
Christiaan Vermeijden, CEO of EMGS, said: “The use of 3D EM data allows our customers to reduce exploration uncertainty. EMGS is pleased to announce the execution of the above agreements.”
Just last week, EMGS entered into other agreements involving data licensing as well as processing and interpretation services for 3D EM data in Norway and Mexico for $2 million.