North Energy buys 3D EM Barents Sea data

Electromagnetic Geoservices (EMGS) has signed a $16-million agreement with North Energy.

Jan 21st, 2014

Offshore staff

TRONDHEIM, Norway – Electromagnetic Geoservices (EMGS) has signed a $16-million agreement with North Energy.

The terms include a sale of3D electromagnetic (EM) data from EMGS’ existing multi-client data library in the Barents Sea for $12.1 million, and services related to EM inversion and integrated interpretation for $2.4 million.

In addition, North Energy has committed to pre-fund $1.6 million for a program this year in the Barents Sea.

“We are…encouraged by the fact that we are now entering into a strategic partnership with North Energy where the application of EM technology will be an integral part of their exploration workflow,” said Roar Bekker, CEO of EMGS.

01/21/2014

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