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

Current News

ONGC Inks Deal with ExxonMobil for Deepwater Exploration in India

US Advances Plans for Offshore Wind in Maine

Pemex and Union Agree to 4% Salary Increase

Navigating a Minefield: Why UXO Could Hamper the UK’s Offshore Wind Ambitions

Subscribe for OE Digital E‑News