New job: for EMGS
EMGS bags $150m deal
Oslo-listed Electromagnetic Geoservices (EMGS) said today it has been awarded a multi-year contract worth around $150 million.
EMGS did not disclose the client or contract location.
The 3D electromagnetic campaign will see one of EMGS's vessels employed continuously throughout the contract period.
The deal is expected to be sealed within two weeks, with vessel mobilisation scheduled for the end of August.
The company said it expects the contract to boost its revenues for the year by between $20 million and $25 million, with the remaining contract value will be recognised in next year and the year after.
"This award, by far the largest ever within marine EM, is a giant step forward for EMGS,” company boss Roar Bekker said in a statement.
