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Multi-Client Revenues Related to APA 2017 Awards

Source: www.gulfoilandgas.com 1/17/2018, Location: Europe

On 16 January 2018, the Norwegian Ministry of Petroleum and Energy (the "MPE") announced the awards of new production licenses through the Awards in Pre-defined Areas (APA 2017) licensing round.

Based on the offered awards, Electromagnetic Geoservices ASA (the "Company" or "EMGS"), expects to realise net uplift revenues of approximately USD 1 million from data-licensing agreements related to the Company's multi-client library.

The uplift revenues, which are subject to the Company's customers' formal approval of the awards offered by the MPE, will be recognised in the first quarter of 2018.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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