EMGS secures buyer for offshore Newfoundland 3D data

Electromagnetic Geoservices has entered into a data licensing agreement with an unnamed major oil company.

Offshore staff

TRONDHEIM, NorwayElectromagnetic Geoservices (EMGS) has entered into a data licensing agreement with an unnamed major oil company.

This concerns provision of 3D electromagnetic (EM) data from EMGS’ multi-client data library over the Flemish Pass basinoffshore Newfoundland, acquired during 2014. The value of the agreement is $3.9 million.

EMGS CEO Christiaan Vermeijden claimed the agreement “represents a breakthrough for the application of our technology in this region.

“The offshore basins ofNewfoundland are largely underexplored and the use of 3D EM data will aid companies in developing a better understanding of the basin’s complex geological structures and its hydrocarbon potential.”

05/24/2016

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