Statoil to Test Electromagnetic Exploration Method
Statoil and Discover Petroleum have signed an agreement for the testing of an electromagnetic method that may increase the probability of oil and gas discoveries.
The aim of the method is to gather electromagnetic data with a view to identifying oil and gas in the reservoir. This will be used as a supplement to seismic data for calculating the probability of discovery.
The technology will be tested in various places on the Norwegian continental shelf during the autumn of 2006.
"It is important to Statoil to be in the leading edge of technology development. The collaboration with Discover Petroleum about new electromagnetic methods within exploration is therefore interesting," says Tim Dodson, senior vice president for exploration.
Lars T. Bjerke, managing director of Discover Petroleum, is very pleased to be collaborating with a technology company like Statoil:
"We regard this as confirmation that our skills and technology may contribute significantly to value creation on the Norwegian continental shelf," he says.
The companies will decide on further collaboration within technology and exploration of licenses and/or new exploration areas when the testing is completed.
- Big Oil Reuses Platforms in Latest Cost-Cutting Trick (Nov 15)
- Tight Oil, Shale to Drive Majors' Output to New Highs (Oct 16)
- Shell, Equinor Commit to Tanzania LNG as They Await Host Accord (Oct 16)