EMGS in 3D Data Deal

Norway's Electromagnetic Geoservices (EMGS) reported Friday that it has signed a data licensing agreement worth $6.4 million for the provision of 3D controlled-source electromagnetic (CSEM) and magnetotelluric (MT) data from its multi-client data library covering the Norwegian Sea.

Following the deal, said EMGS, it has in total secured close to $15 million of multi-client sales from its basalt mapping program in the West of Shetland area and Production Licenses 598 and 527 in the Norwegian Sea.

In addition, EMGS has secured initial pre-funding for the first phase of its 2013 Barents Sea multi-client survey program which covers approximately 1,150 square miles of 3D EM data over the western Bjarmeland platform and Fingerdjupet sub-basin. EMGS's 3D EM multi-client data library in the Barents Sea will, upon completion of this survey, cover approximately 10,350 square miles.

EMGS said it expects that the vessel Atlantic Guardian will complete phase one of the 2013 Barents Sea multi-client survey program by the end of June.

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