North Energy buys 3D EM Barents Sea data
Electromagnetic Geoservices (EMGS) has signed a $16-million agreement with North Energy.
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.