North Energy has entered into a four-year collaboration agreement with TGS-NOPEC Geophysical Company ASA (TGS) concerning the purchase of seismic data and services.

This represents a natural progression from an earlier collaboration agreement with Rex Oil & Gas (Rex) on the purchase of virtual drilling (VD) services for prospect evaluation, which calls for access to substantial volumes of seismic data.

"The agreement with TGS gives us access to large volumes of seismic data from the market leader in the Barents Sea," says Erik Karlstrøm, chief executive of North Energy. "TGS has ambitious plans, not least for a continued commitment to the Barents Sea. Through this deal, we have reinforced our position in the far north. The combination with Rex fits like a glove."

Tags: North Energy AS