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EMGS Signs Multi Client Contract Worth $4 million

Source: www.gulfoilandgas.com 12/4/2013, Location: Europe

Electromagnetic Geoservices ASA (EMGS) has signed a data licensing agreement with OMV Norge AS worth around USD 4 million for the provision of 3D EM data from EMGS's multi-client data library in the Hoop area in the Barents Sea. In addition, the agreement contains an uplift model whereby EMGS will receive an undisclosed sum if the customer is awarded blocks in future licensing rounds in Norway.

"Following the Wisting discovery in September we have experienced an increased interest in our data from the Barents Sea," says Roar Bekker, CEO of EMGS.

EMGS's data library in the Barents Sea now covers more than 30,000 km2, including approximately 110 blocks of which 57 are open blocks.

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Related Categories: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 

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