EMGS, TGS Collaborate on Barents Sea 3D Seismic Project

Norway’s Electromagnetic Geoservices (EMGS) announced Wednesday that it has signed an agreement with TGS to jointly invest in a 3D electromagnetic multi-client survey program covering 11 blocks (approximately 1,265 square miles) in the Hoop area of the Barents Sea.

The 3D electromagnetic data, currently being acquired by EMGS's vessel Atlantic Guardian, will be sold by both EMGS and TGS. The two firms will split revenues according to their respective investments in the project.

Under the terms of their collaboration, EMGS will be given access to TGS's 2D seismic data for survey planning and integration purposes while TGS will obtain access to 3D EM data to evaluate and plan subsequent multi-client work over the area.

EMGS CEO Roar Bakker commented in a company statement:

"EMGS and TGS recently entered into a cooperation agreement and we are pleased to now join forces in the Barents Sea. Both companies have a strong track record in this area and several case studies have shown the value of integrating EM and seismic data to reduce exploration risk and identify new hydrocarbon prospects. This provides a great starting point for the joint project in the Hoop area."

Have a news tip? Share it with Rigzone!
Email news@rigzone.com


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Aker Solutions to Buy Brazilian C.S.E (Oct 21)
 -  Sea Trucks Group Secures Work Offshore... (Oct 21)
 -  Shell Divests Non-Core Oil, Gas Proper... (Oct 21)
 -  Petrofac Appoints New CFO (Oct 21)
 -  Wheatstone LNG Development Start-Up in... (Oct 20)

Most Popular Articles

From the Career Center
Jobs that may interest you
Project Engineer
Expertise: Field Service Tech
Location: Austin, TX
US El Reno: Entry Level Engineer - Cased Hole
Expertise: Wireline
Location: El Reno, OK
US El Reno: Entry Level Operator Assistant I - Logging and Perf
Expertise: QA / QC / Inspection|Well Control|Wireline
Location: El Reno, OK
search for more jobs

Brent Crude Oil : $49.98/BBL 1.59%
Light Crude Oil : $49.18/BBL 1.56%
Natural Gas : $2.73/MMBtu 1.44%
Updated in last 24 hours