EMGS in Barents data sales

08 September 2015, News Wires – Electromagnetic Geoservices (EMGS) has sold multi-client data covering Norway’s Barents Sea to a pair of new clients in deals worth a total of $4.1 million.

BarentsSea. seismicThe Oslo-listed electromagnetic survey player will reap a net $2.6 million after a partner’s share of the sales revenue is deducted, EMGS said in a statement.

The frontier Arctic region remains on the radar screen for explorers despite low oil prices, 34 blocks in the newly opened south-east Barents on offer in Norway’s ongoing 23rd licensing round.

Oil companies are seeking to get their hands on geophysical data to determine the prospectivity of blocks ahead of the 2 December bid deadline, with awards due to be made in the first half of 2016.



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