Spectraseis, the leading provider of low frequency geophysical solutions to the upstream oil & gas industry, announced that it is to extend its technical collaboration with StatoilHydro in the fast-emerging field of low frequency (LF) passive seismic technology.
Areas of technical collaboration will include the analysis of passive seismic surveys, and StatoilHydro has interest in joining the newly formed Joint Industry Project (JIP) established by Spectraseis and the Swiss Federal Institute of Technology (ETH Zurich). The JIP has been set up to further advance the understanding of LF passive seismic technology for enhanced applications in the detection of hydrocarbon reservoirs.
"We are delighted to be extending our collaboration today with StatoilHydro, a leading technology innovator," said Ross Newman, CEO of Spectraseis. "StatoilHydro's active involvement is further confirmation of the huge opportunities low frequency seismic technology brings to the upstream E&P business, and we look forward to working together in further commercializing the next generation of geophysical information."
"Reducing risk in exploration and production is one of the single biggest challenges E&P operators face today," said Ole J. Martinsen, vice president of Exploration Research at StatoilHydro. "We look forward to continuing to work with Spectraseis in ensuring that LF passive seismic reaches its full potential. Our program with Spectraseis during the past two years has been very positive. The Spectraseis team has established clear leadership in LF technology and we are excited to be extending our collaboration with them in this high-potential field."
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