Offshore survey service provider Electromagnetic Geoservices (EMGS) has entered into a $8m multi-client contract with an undisclosed customer.
Under the contract, the customer will license certain data from the company’s existing EM multi-client library in Norway and settle future potential uplift obligations towards the company for certain multi-client data already licensed by the customer.
The contract furthermore includes a number of user licenses to the company’s proprietary EMU and SBLwiz software, and prepayment for consulting services.
The company expects that the full contract value will be recognized in the fourth quarter.
