TRONDHEIM, Norway – Electromagnetic Geoservices (EMGS) has entered into a data licensing agreement with an unnamed major oil company.
This concerns provision of 3D electromagnetic (EM) data from EMGS’ multi-client data library over the Flemish Pass basin offshore Newfoundland, acquired during 2014. The value of the agreement is $3.9 million.
EMGS CEO Christiaan Vermeijden claimed the agreement “represents a breakthrough for the application of our technology in this region.
“The offshore basins of Newfoundland are largely underexplored and the use of 3D EM data will aid companies in developing a better understanding of the basin’s complex geological structures and its hydrocarbon potential.”
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