Norwegian oil major Statoil announced Thursday that it plans to use "seismic cables" on the seabed to help produce 30 million additional barrels of oil from its Snorre and Grane fields.
The company has signed contracts worth $160 million (NOK 900 million) with U.S. firm Geospace Technologies to deliver the cables, which will be part of a permanent reservoir monitoring (PRM) program. Statoil believes the technology will allow it to better understand the reservoirs because they are stable and able to provide a more accurate picture of the subsurface than cables that are towed on the surface and which are subjected to wind, waves and currents.
Statoil plans to lay more than 400 miles of seismic cables on the Snorre and Grane oil fields.
Øystein Michelsen, Statoil's executive vice president for production on the Norwegian shelf, commented in a company statement:
"Better seismic data are essential to the company's strategy for increased oil production. This is a very important project for Statoil.
"Statoil is a world leader within increased oil recovery. This technology is an important contribution to reaching our ambition of increasing the recovery rate for oil to 60 per cent from our fields on the Norwegian shelf."
Statoil currently recovers around 50 percent of the oil from its operated field on the Norwegian continental shelf.
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