EMGS sells 3D EM data for Barents Sea

Electromagnetic Geoservices ASA (EMGS) has entered into a $8 million data licensing agreement with an international oil company  for the provision of 3D EM data from EMGS’ multi-client data library in the Barents Sea.

“This sale confirms the increased recognition of the value of EMGS’ EM technology as an important exploration tool. The addition of a new supermajor to our expanding customer base proves the breakthrough our technology has had in Norway this year,” says Roar Bekker, CEO of EMGS.

Of the total sale, data worth $4.8 million will be delivered in Q4 2014, of which EMGS will book $4.5 million in the quarter after partner’s share of the revenues. Data for the remaining $3.2 million of the agreement will be booked in 1H 2015.

EMGS’ multi-client data library in the Barents Sea now covers 42,000 km2, in addition to approximately 10,000 km2 in the Norwegian Sea and 1,400 km2 in the North Sea.

Press Release

Share this article

Follow Offshore Energy Today

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 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 1

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Offshore Energy Exhibition and Conference (OEEC) 2020

Offshore Energy addresses the technical, operational and commercial challenges associated with future sector growth.

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