EMGS' Client Firms Up Multi-client Data Licensing Deal

OE Staff
Friday, August 13, 2021

Norwegian offshore survey company Electromagnetic Geoservices (EMGS) in June entered into a framework contract with an existing client for licensing of multi-client data from the EMGS' international multi-client library.

The company said at the time there were no minimum licensing commitments for the undisclosed client under the framework contract.

In an update on Friday, August 13, EMGS said that the customer has now confirmed that it will license data under the framework contract worth approximately USD 2.5 million, which will be recognized as revenue in the 3rd quarter.

EMGS, which provides data to offshore oil and gas explorers, did not provide any further details on the data to be licensed nor on the client.

A Map of EMGS' multi-client library shows the company has data over offshore areas in the North Sea, Norwegian Sea, Barents Sea, Greenland, East Canada, Brazil, Nigeria, India, Australia, and Indonesia.

Categories: Geoscience Seismic

Related Stories

CEO Says Exxon Mobil Not Trying to Buy Hess

Big Oil Execs Push Back Against Calls for Fast Energy Transition

TotalEnergies Gets Share of Bayou Bend CCS Project in United States

Current News

Vattenfall to Take Part in IJmuiden Ver Offshore Wind Tender in Netherlands

Beach Energy to Let Go 30% of Workforce Amid Strategic Review

Ocean Infinity Inks Deal with Shell for Subsea Data Capture Services

EnQuest Trims Loss and Announces $15M Share Buyback

Subscribe for OE Digital E‑News