EMGS Sells from its multi-client library - Barents Sea, Norway

Electromagnetic Geoservices ASA (EMGS) announces that the 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 providing net revenue of USD 2.1 million to EMGS. The revenue will be recognized in the third quarter of 2016.

EMGS is glad with the oil company's purchase of the 3D CSEM data to evaluate the exploration for hydrocarbons in the Barents Sea, says Christiaan Vermeijden, CEO.