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.
