Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/emgs-and-tgs-expand-barents-sea-cooperation.shtmlEMGS and TGS Expand Barents Sea Cooperation
Electromagnetic Geoservices ASA (EMGS) and TGS-NOPEC Geophysical Co ASA (TGS) have agreed to expand the companies’ cooperation agreement in the Barents Sea.
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Electromagnetic Geoservices ASA (EMGS) and TGS-NOPEC Geophysical Co ASA (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 agreements total USD 2 million. This will be recognised in the first quarter of 2017.
