Electromagnetic Geoservices ASA (EMGS) has entered into a data licensing agreement with an international oil company. The agreement, which is worth USD 3.7 million after adjustment for partner’s share of the revenues, is for the provision of 3D EM data from EMGS’s multi-client data library for the Barents Sea. The multi-client revenues will be booked in the third quarter 2014.
EMGS’s multi-client data library in the Barents Sea now covers 42,000 km2, in addition to approximately 10,000 km2 in the Norwegian Sea and 1,400 km2 in the North Sea.
Svein Knudsen, EMGS chief financial officer, +47 911 41 149
Charlotte Knudsen, Head of investor relations, +47 97561959