Wavefront Technology Solutions Inc. has entered an agreement to provide Wavefront's Powerwave technology to a top-tier service supplier for its operations in the United Arab Emirates (UAE), a news release said.
The subcontract is with a subsidiary of one of the world's largest oil and gas service companies.
Under the terms of the agreement Wavefront will provide tools and training at a fixed monthly rate and will be paid 50% of the total monthly revenue related to Powerwave well stimulations generated by the service supplier, according to the release.Wavefront and the service supplier are in the planning stages of an initial three stimulations slated for near-term completion.
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