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EMGS and TGS agree to extend cooperation agreement in Barents Sea

Electromagnetic Geoservices (EMGS) and TGS have agreed to extend their cooperation agreement in the Barents Sea, Arctic Ocean.

Both firms will acquire further 3D electromagnetic (EM) data for ten new blocks in the Nordkapp and Tiddly areas.

EMGS and TGS will each hold a 50% share in the data.

The 3D EM campaign is expected to start in about two weeks using the Atlantic Guardian survey vessel and will take about two months to complete.

"As the 23rd Norwegian licensing round approaches, it is imperative for clients to have high-quality, integrated EM and seismic data available."

The campaign is supported by industry funding and EMGS said the contribution from TGS will be booked as a reduction of the carrying value of its current multi-client library.

TGS senior vice-president of Eastern Hemisphere Stein Ove Isaksen said: "TGS and EMGS are once again pleased to expand their cooperation in the Barents Sea.

"As the 23rd Norwegian licensing round approaches, it is imperative for clients to have high-quality, integrated EM and seismic data available."

TGS offers multi-client geoscience data to global oil and gas exploration and production companies.

EMGS has conducted more than 700 surveys in frontier and mature basins worldwide, from the Arctic to Australia, in water depths ranging from 30m to 3,500m.

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