Stingray Geophysical was named winner of the Measurement in Action Innovation Award at the Institution of Engineering and Technology's (IET) Innovation Awards 2009 dinner at Lord's Cricket Ground in London on November 25. The Stingray entry, entitled "Fosar -- Fiber-Optic Permanent Reservoir Monitoring for Maximizing Oil and Gas Reservoir Yields," was also a finalist in the Emerging Technologies and Power/Energy categories.
Spanning 15 categories, the IET Innovation Awards attracted over 300 entries from around the world, representing a unique opportunity for innovators to be recognised and providing a showcase for the brightest ideas, highlighting the importance of innovation by celebrating its application across a range of engineering disciplines.
Stingray's winning entry describes how its Fosar® Seismic Permanent Reservoir Monitoring (PRM) system uses a highly efficient multiplexing architecture to combine high performance fiber-optic hydrophones and accelerometers into an electrically passive sensor network which, when deployed over a producing oilfield, allows seismic imaging of the reservoir. This imaging, over time, enables a greater understanding of reservoir behavior as it is drained, assisting oil companies in increasing total recovery while reducing production costs and risks.
Conventional seismic data acquisition systems are based on electrical sensor technology, which require large amounts of underwater electronics and electrical power. Fosar, being powered by light, offers reduced size and weight, reduced environmental impact, more efficient installation and significantly increased reliability.
Martin Bett, Stingray’s Chief Executive added, "We are delighted to be recognised in this way by the IET -- it is a testament to the achievements of our team and partners in commercialising a very high fidelity, large-scale, fiber-optic sensing system for use in harsh environments by a very demanding industry. Stingray's Fosar Seismic PRM solution delivers significant improvements in long-term reliability and through-life cost and will be a key enabler in helping oil companies address their production and reserves replacement challenges."
Nigel Fine, IET Chief Executive, said, "I would like to congratulate all the winning and shortlisted entries in this year's IET Innovation Awards, which demonstrate genuine innovation and represent significant technological advances.
"The entries which made it into the shortlist are a very impressive roll call of innovation and although it may be a cliché to say 'everyone is a winner,' in this case I am sure it is true. The awards highlight the depth and breadth of innovative work which is being carried out and it is clear from the range of entries that innovation is alive and well."
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