Electromagnetic Geoservices ASA (EMGS) and TGS have agreed to further expand the companies' cooperation agreement in the Barents Sea.
The companies have agreed to acquire 3D EM data over approximately 10 new blocks in the Nordkapp and Tiddly areas and have a 50% ownership each in the data acquired.
The contribution from TGS related to the new campaign will be booked as a reduction of the carrying value of EMGS existing multi-client library.
EMGS expect to commence acquisition, using the vessel Atlantic Guardian, in about two weeks. The campaign has an expected duration of 2 month and is supported by industry funding.