EMGS Looking at Options After Pemex Says No More Work to Be Awarded

Norwegian marine survey company EMGS is looking at options after Mexico’s Pemex said it wouldn’t award any more work “in the medium future” under a contract announced in 2019. EMGS expects the decision will have a “material detrimental effect” on its business.

“Electromagnetic Geoservices ASA…has been advised by the customer that the company will not, in the near to medium future, receive additional acquisition work under the two-year acquisition contract announced to the market on 4 June 2019.”

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