EMGS in Barents Sea data deal

emgs-in-barents-sea-data-dealNorway’s Electromagnetic Geoservices ASA (EMGS) has entered into a data licensing agreement for the provision of 3D CSEM data from the multi-client data library in the Barents Sea.

The agreement, with an undisclosed client, will provide net revenue of $1 million to EMGS, the company said on Thursday. The revenue will be recognized in the fourth quarter of 2016.

To remind, the company on Wednesday said it would reduce its cost base “in line with a reduced level of activity.” The company said this would lead to layoffs.

EMGS said it would seek a global reduction in employee expenses of approximately 20% by using both temporary and permanent layoffs amongst others. The cost reduction measure should yield effects gradually as headcount reductions onshore and offshore are scheduled to follow a different timeline, EMGS said without providing details.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Jul 2019 >>
MTWTFSS
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 31 1 2 3 4

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

8th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

Gas Indonesia Summit 2019

Gas Indonesia Summit & Exhibition is returning for the fourth edition in Jakarta…

read more >

Shanghai Int Petrochemical and Offshore Oil & Gas and Chemical Industry Technology and Equipment Exhibition 2019

cippe Shanghai has attracts both…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply