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EMGS provides status on Barents Sea multi-client sales


Published Oct 5, 2010
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EMGS - 3D EM vessel BOA Galatea

Electromagnetic Geoservices ASA (EMGS) has secured late-sales worth approximately USD 4 million for its multi-client 3D EM data in the Barents Sea, ahead of Norway's 21st exploration licensing round. These revenues will be recognised in the third quarter of 2010.

Industry pre-funding and late-sales year-to-date totals approximately USD 10 million, of which USD 6 million were recognised in the second quarter of 2010.

EMGS's multi-client data library in the Barents Sea covers more than 16,000 km2 of workstation-ready 3D EM data that can be integrated with other subsurface measurements for immediate analysis and evaluation of potentially prospective areas. Further sales in the form of late-sales and contractual uplifts are expected.

Tags: EMGS



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