This week saw the foundation of Electromagnetic GeoServices (EMGS). Statoil holds the majority interest in the company, which will sell services related to subsea logging.
Statoil has already tested out the technology during the 17th licensing round on the Norwegian continental shelf. The results are promising and will be a big boost when the group prepares its application for new acreage in the Norwegian sector.
"The technology makes it easier to identify hydrocarbons in deep water," reports Terje Eidesmo, general manager of EMGS. In addition to the Norwegian continental shelf, it may also be appropriate for western Africa, the Gulf of Mexico and South America.
Mr Eidesmo adds that the method can also be developed for use in shallow waters and for monitoring reservoirs. Research vice president Gunnar Myreboe says that the formation of EMGS is a good example of how Statoil can commercialize results from technology. The technology was born at the group's research center in Trondheim and research will continue in this area. Statoil has sold the rights to its patented technology to EMGS.
Mr Eidesmo developed the technology together with Svein Ellingsrud and Stale Johansen, who are also joining the new company as owners along with Statoil and the Norwegian Geotechnical Institute. Through its subsidiary Statoil Innovation, the group owns over half the shares.
The object of Statoil Innovation is to commercialize Statoil's technology and expertise through the establishment of new companies.
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