Global Geo Services Gets Partner Payment in Iran

Global Geo Services ASA (GGS) will receive a partner uplift of 1.5 MUSD related to the ongoing licensing round in Iran, Dayyer Block.

The payment is a result of the application for a block in the Persian Gulf by an existing PC-2000 customer in partnership with a company that has not purchased the data before. The sum represents payment for the partner for all the PC-2000 data inside the block applied for. Additional uplift may apply depending on award of blocks and/or additional partners.