Electromagnetic Geoservices ASA (the «Company» or «EMGS») has entered into an agreement with one of its clients related to the client’s licenses to CSEM data from EMGS’ multi-client library in Norway. The agreement covers the client’s merger with another entity and the merger fees payable as a result of this, as well as an upfront settlement of all uplifts which would otherwise be payable to EMGS from that client as a result of license awards in APA17 and the 24th licensing round in Norway.
Furthermore, EMGS has entered into a data licensing agreement related to its existing CSEM multi-client library in the Americas.
The two agreements mentioned above represent combined net revenues to EMGS of approximately USD 5.9 million.
The two agreements mentioned above represent combined net revenues to EMGS of approximately USD 5.9 million.