EMGS Reports Multi-client Sales

Electromagnetic Geoservices ASA (EMGS) has entered into a data licensing agreement with an oil company for the provision of 3D EM data related to the 23rd licensing round in the Barents Sea. The agreement is worth USD 2.5 million, before potential adjustment for partner's share of revenues.

"It satisfying to note that our multi-client library continues to provide value for new and existing clients in the Barents Sea. An increased acceptance of EM as a value-adding exploration tool in the region, and our vast coverage coupled with customer's success, bode well for the future" says CEO Roar Bekker.

EMGS' multi-client data library in Norway now covers 44,000 km2 in the Barents Sea, in addition to approximately 10,000 km2 in the Norwegian Sea and 1,400 km2 in the North Sea.