EMGS Inks Charter for BOA Thalassa
Electromagnetic Geoservices ASA (EMGS) has signed a new charter agreement for the vessel BOA Thalassa with BOA SBL AS (owner of the vessel) at new and improved commercial terms. The new terms are valid through 1 October 2019 with an option to extend the new agreement through 1 April 2021. EMGS and the owners have agreed to a reduction of the charter hire rate by approximately 20%.
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…
EMGS Secures Prefunding for multi-client Acquisition in Norway
Electromagnetic Geoservices ASA (EMGS) announces that the Company has 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. The pre-funding amounts to USD 1 million. This new acquisition is expected to take place in Q3 2016 and will become part of the EMGS multi-client library.
EMGS Expects Revenues from NCS 23rd Licensing Round
On 18 May 2016, The Ministry of Petroleum and Energy announced the offer of ten new production licenses in the 23rd licensing round on the Norwegian continental shelf to a total of thirteen (13) companies. All ten licenses are in the Barents Sea, of which three licenses are in the new area in the southeastern Barents Sea. Based on these awards…
EMGS Strikes Canada Data Deal
Electromagnetic Geoservices ASA (EMGS) has entered into a data licensing agreement with a major international oil company for the provision of 3D electromagnetic (EM) data from the multi-client data library over the Flemish Pass Basin offshore Newfoundland, Canada worth a total of USD 3.9 million. The EM data will be delivered in May 2016 and thus the multi-client revenue will be recognised in the second quarter of 2016.
