Caspian Services Acquires Geophysical Research Technology
KMG, a 50% owned subsidiary of Caspian Services, Inc. acquired ownership of a Kazakh patent to a unique low-frequency geophysical research technology known as "ANCHAR." The ANCHAR technology can be used to identify the presence of hydrocarbons within geological structures. KMG provides geophysical research services in Kazakhstan, and has been offering ANCHAR based research services to its clients since 2003.
A number of oil and gas exploration companies have successfully used this technology to identify oil and gas deposits in Kazakhstan since 2003, including EmbaYugNeft LLP, BMB Munai, Inc., CJSC Bolz and KazNefteHim LLP.
Dr. Mirgali Kunayev, Chairman of Caspian Services, stated, "We believe that acquiring ownership of the ANCHAR technology will enhance the competitive position of our geophysical research business segment and further distinguish Kazmogeohphysica as a leader in advanced technology deployment in geophysical direct survey services in Kazakhstan."
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