Electromagnetic Geoservices ASA (EMGS) has signed a data licensing agreement with OMV Norge AS worth around USD 4 million for the provision of 3D EM data from EMGS's multi-client data library in the Hoop area in the Barents Sea. In addition, the agreement contains an uplift model whereby EMGS will receive an undisclosed sum if the customer is awarded blocks in future licensing rounds in Norway.
"Following the Wisting discovery in September we have experienced an increased interest in our data from the Barents Sea," says Roar Bekker, CEO of EMGS.
EMGS's data library in the Barents Sea now covers more than 30,000 km2, including approximately 110 blocks of which 57 are open blocks.
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 explorationists 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 main offices in Trondheim and Oslo, Norway; Houston, USA; and Kuala Lumpur, Malaysia.
