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>

<< Mar 2019 >>
MTWTFSS
25 26 27 28 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

16th MOSCOW INTERNATIONAL OIL AND GAS EXHIBITION

The Moscow International Oil & Gas Exhibition display products like oil and gas products, oil and gas services…

read more >

Beijing International Offshore Oil & Gas Exhibition (ciooe) 2019

Beijing International Offshore Oil & Gas Exhibition (ciooe), is a regular gathering in oil & gas industry…

read more >

Lebanon International Oil & Gas Summit 2019

LIOG 2019 will delve further into the opportunities that are present in Lebanon’s energy sector…

read more >

Atyrau Oil & Gas 2019

The event program is dedicated to the most topical issues of search, exploration, development of hydrocarbons…

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