Norwegian offshore survey company Electromagnetic Geoservices (EMGS) said Friday it had entered into a framework contract with an existing client for licensing of multi-client data from the EMGS' international multi-client library.
There are no minimum licensing commitments for the undisclosed client under the framework contract.
However, EMGS said it believed, based on the information available, that the contract will result in late sales during 2H 2021 with a total value between USD 2.5 and USD 3.0 million.
EMGS, which provides data to offshore oil and gas explorers, did not provide any further details on the data to be licensed nor on the client.
A Map of EMGS' multi-client library shows the company has data over offshore areas in the North Sea, Norwegian Sea, Barents Sea, Greenland, East Canada, Brazil, Nigeria, India, Australia, and Indonesia.