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EMGS Receives Multi-client Letter of Intent

Source: www.gulfoilandgas.com 2/22/2019, Location: Europe

Electromagnetic Geoservices ASA has received a letter of intent with an approximate value of USD 8 million from an undisclosed customer. Under the letter of intent, the customer will license certain data from the Company's existing EM multi-client library in Norway, and prefund a new multi-client acquisition in the North Sea. The letter of intent furthermore includes a settlement of future potential uplift obligations towards the Company for certain multi-client data licensed by the customer. Subject to a final contract being entered into under the letter of intent, the Company expects to recognise approximately USD 7 million in the first quarter of 2019.

Survey & Maps News in Norway >>

Norway >>  2/18/2020 - PGS has entered into an agreement with Cognite to reduce vessel operating costs and improve efficiency. Leveraging fleet productivity and technology i...
Norway >>  2/17/2020 - Magseis Fairfield has signed a system sales contract for delivery of Z100-nodes to an existing client in Asia. The delivery complements the client’s e...

United States >>  2/6/2020 - CGG and Fairfield Geotechnologies have signed a second cooperation agreement to acquire a series of large-scale, high-density, multi-client surveys in...
Papua-New Guinea >>  2/3/2020 - PGS will commence the Painimaut 3D MultiClient program in Papua New Guinea (“PNG”) in early February. The program is expected to last for approximatel...

Related Categories: Aerial Survey  General  GIS Services  GPS Services  Land Survey  Marine Survey  Site Survey 

Related Articles: Aerial Survey  General  GIS Services  Land Survey  Marine Survey  Site Survey 


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