Petroleum Geo-Services (PGS) and Electromagnetic Geoservices (EMGS) has reached a settlement agreement over a number of patent disagreements,
The companies have now granted each other mutual licenses to use the other’s patents and work on future EM surveys.
It comes after a dispute lasting three years when EMGS filed a complait against PGS in the UK.
The company alleged PGS had infringed on EMGS’s European Refracted Wave Patent.
Both firms said the disputes have been settled and an agreement has been reached which grants PGS a licences to the EMGS patents for operation of its Towed Streamer EM system.
EMGS has also grante PGS a license to the patent.