EMGS sells more multi-client data

Norwegian geophysical services company Electromagnetic Geoservices (EMGS) has entered into a new multi-client data sales agreement.

Although the company did not disclose the client, EMGS did say on Friday that the deal would provide the company with a net revenue of $2 million.

Furthermore, EMGS added that $1.8 million of the revenues would be recognized in the fourth quarter of 2016, while the remaining $0.2 million is considered as pre-funding of planned multi-client data acquisition relevant for the 24th licensing round in the Barents Sea.

The announcement of the 24th licensing round is expected before summer 2017. In the Barents Sea, there will be extensive exploration activity over the next few years in licenses already awarded. The Norwegian government invited oil companies to nominate blocks for the round back in August.

Christiaan Vermeijden, CEO of EMGS, said he was pleased to see interest in 3D CSEM data from the Barents Sea and encouraged customers to take advantage of the vessel being active in the area in the spring of 2017.

The company did not specify which vessel would be in the region until next spring, but it is likely that the Atlantic Guardian, one of the two active vessels this year, is the one in question since it has been doing surveys in the Barents Sea offshore Norway in the third quarter and is currently in Hammerfest.

The other EMGS vessel that was active this year is the Boa Thalassa, currently stationed in Labuan, Malaysia.

To remind, EMGS has already sold sets of 3D CSEM data from the Barents Sea in the past few months, most recently in September and October.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 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 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

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 >

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