EMGS sells from Barents Sea multi-client library

Electromagnetic Geoservices (EMGS), a Norwegian geophysical services company, has entered into a data licensing agreement for the provision of 3D CSEM data from the multi-client data library in the Barents Sea.

Although the company did not disclose the other party in the deal, EMGS did say on Wednesday that the deal will provide the company with a net revenue of $2.1  million.

The company added that the revenue from the sale will be recognized in the third quarter of 2016.

Christiaan Vermeijden, CEO of EMGS, said that the buyer, which he described as an ‘oil company,’ purchased the 3D CSEM (Controlled-source electromagnetic) data to evaluate the exploration for hydrocarbons in the Barents Sea.

The geophysical services company in August reported a smaller loss for the second quarter of 2016 compared to the same period last year as revenues increased.

Also in August, EMGS entered into a data licensing agreement with a repeat customer for 3D EM data to be acquired over the Hoop area in the Barents Sea.

Share this article

Follow Offshore Energy Today

Events>

<< Sep 2019 >>
MTWTFSS
26 27 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 2 3 4 5 6

Africa Oil & Power 2019

The Africa Oil & Power conference will bring together an elite class of ministers and senior-level government…

read more >

OWI LATAM 2019

Over the two-day conference, 25+ expert speakers will share exclusive insight on how to develop an integrity, production and P&A strategy…

read more >

Uganda International Oil and Gas Summit 2019

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

read more >

Argentina Oil and Gas Expo 2019

The Argentine Oil and Gas Institute (IAPG) organizes the Argentina Oil & Gas Expo bringing together the most…

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