EMGS, TGS expands Barents agreement

OE Staff
Friday, January 20, 2017

Electromagnetic Geoservices (EMGS) and TGS-NOPEC Geophysical (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 above agreements total US$2 million. This will be recognized in Q1 2017.

Categories: Geoscience Activity Norway Europe Geophysics Geology

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