EMGS and TGS Expand Barents Sea Cooperation (Scandinavian Oil-Gas Magazine)

EMGS and TGS Expand Barents Sea Cooperation

Published Jan 23, 2017

Electromagnetic Geoservices ASA (EMGS) and TGS-NOPEC Geophysical Co ASA (TGS) have agreed to expand the companies’ cooperation agreement in the Barents Sea. TGS will be investing in a 3D CSEM data acquisition project related to the 24th licensing round in Norway. The contribution from TGS will be booked as a reduction of the carrying value of EMGS’ multi-client library.

In addition, EMGS reports late sales of multi-client data in Norway.

The agreements total USD 2 million. This will be recognised in the first quarter of 2017.

Tags: Electromagnetic Geoservices ASA (EMGS), TGS-NOPEC Geophysical Co ASA

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