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 1 million to EMGS. The revenue will be recognised in the fourth quarter of 2016.
Contact
Hege Veiseth, EMGS Chief Financial Officer, +47 992 16 743
About EMGS
EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. EMGS supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The Company's services enable the integration of EM data with seismic and other geophysical and geological information to give exploration experts a clearer and more complete understanding of the subsurface. This improves exploration efficiency and reduces risks and the finding costs per barrel.
EMGS operates on a worldwide basis with offices in Trondheim, Oslo, Houston, Villahermosa, Rio de Janeiro and Kuala Lumpur.
For more information, visit www.emgs.com