BOSS Bags $13MM Investment

BOSS Bags $13MM Investment
Blue Ocean Seismic Services has secured a total of $13 million of investment from BP Ventures, Woodside Energy and Blue Ocean Monitoring.

Blue Ocean Seismic Services (BOSS) has revealed that it has secured a total of $13 million (GBP 10 million) of investment from BP Ventures, Woodside Energy and Blue Ocean Monitoring.

The investment will be deployed to continue the development of an autonomous underwater vehicle to conduct offshore seismic surveys, BOSS outlined. This technology will significantly reduce the cost, risk, environmental impact and time currently required for the offshore exploration of oil, gas and carbon storage, BOSS noted.

The autonomous vehicle has been designed to be fully containerized, scalable and modular, according to BOSS, which outlined that this allows for deployment to survey locations across the globe. All three investors are said to be actively involved in developing the technology.

BOSS has appointed a “highly experienced” technical team to support the project, the company highlighted. In line with its strategy to establish a presence in key oil and gas markets, the business also revealed that it has established a new corporate head office, lab and workshop facility in Farnborough, UK, which adds to its existing premises in Perth, Australia. The company said it is planning to open other offices from next year. 

“This significant investment marks an important milestone in the development of our revolutionary underwater vehicle and we are excited to be opening up a range of new job opportunities in Farnborough,” Simon Illingworth, the managing director and chief executive officer of Blue Ocean Seismic Services, said in a company statement.

“This support from major industry innovators serves as a strong endorsement for our technology and vision as we continue our journey to disrupt the marine seismic acquisition sector,” he added.

“Through our technology, future customers will be able to explore the subsurface of the ocean whilst substantially reducing risk, carbon emissions, duration and cost, enabling customers to overcome a range of challenges,” Illingworth went on to say.

BOSS, which describes itself as the marine seismic survey disruptor, says its vision is to disrupt the marine seismic industry through the development of a large-scale autonomous ocean bottom seismic data acquisition system.

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