EMGS: Lines Up Funding For Multiclient Acquisition Offshore Norway

Electromagnetic Geoservices ASA (EMGS) said it has entered prefunding agreements related to 3-D CSEM data surveys in the Barents Sea and Norwegian Sea in Norway using conventional technology and the new Deep Blue source.

The agreements represent revenues of about $3 million. Data will be acquired this summer.

In addition, EMGS said the Deep Blue source is now available to the industry after the original joint industry project (JIP) agreement was amended.

“After the successful JIP test surveys during the summer of 2016, we are very pleased to see the first commercial uptake of the new equipment,” EMGS CEO Christiaan Vermeijden said. “Providing the industry with a much stronger source output is a breakthrough for EMGS and our EM technology as we will be more sensitive to deeper targets and smaller targets close to infrastructure.”

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