EMGS secures new framework contract

Oslo-listed Electromagnetic Geoservices (EMGS) has entered into a framework contract with an existing customer for the licensing of multi-client data from its international multi-client library.

The Trondheim-based seismic specialist said that there are no minimum licensing commitments for the customer under the framework contract. 

The agreement is valid from the second half of 2021 with a total value of between $2.5m and $3m, approximately NOK 21m-25.5m.

EMGS recorded revenues of $1.6m in the first quarter of 2021, down from $11.3m in the prior-year comparable period.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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