TGS and EMGS expand Barents Sea cooperation

Electromagnetic Geoservices ASA and TGS have agreed to further expand the companies’ cooperation agreement in the Barents Sea.

Currently, TGS has a 30% ownership in the multi-client EM data over 17 blocks in the Hoop area. The agreement will be expanded with 4 new blocks in the Hoop area and 14 blocks in the southeastern area of the Barents Sea. TGS will take a 50% ownership in the EM data over all the new 18 blocks.

“The expansion of this agreement further confirms the value of integrating 3D EM data with seismic data to reduce risk and discover more in the Barents Sea. The joint sales and marketing efforts will result in broad market exposure of our EM data,” says Roar Bekker, CEO of EMGS.

The contribution from TGS related to the expansion of the agreement will be booked as a reduction of the carrying value of EMGS existing multi-client library.

EMGS will shortly commence acquisition of 3D EM data in the southeast area of the Barents Sea. The vessel Atlantic Guardian will acquire the data in the southeast area. The full survey has a planned duration of 4 months and is supported by industry funding.

Press Release, May 08, 2014

Share this article

Follow Offshore Energy Today

Events>

<< Aug 2019 >>
MTWTFSS
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 31 1

OEE Conference & Exhibition 2019

OEE2019 is organised by Ocean Energy Europe, the industry association representing ocean energy in Europe.

read more >

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

cippe Shanghai has attracts both…

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 >

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