EMGS Bags USD 8 Million Deal
Electromagnetic Geoservices (EMGS) has received a USD 8 million multi-client contract from an undisclosed customer.
Under the contract, the customer will license certain data from the EMGS’ 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 EMGS’ proprietary EMU and SBLwiz software, and prepayment for consulting services.
EMGS expects that the full contract value will be recognized in the fourth quarter of 2019.