Park Place Energy: EM Survey Started on Brighty Prospect
Park Place Energy says that the previously announced Electromagnetic (EM) survey on the North Sea Brighty Prospect has commenced. The Corporation entered into an agreement with EM specialist contractor Offshore Hydrocarbon Mapping (OHM) Limited, to perform the EM survey on Brighty.
OHM is the world's leading provider of Controlled Source Electromagnetic Imaging (CSEMI) services, including surveying, data processing, and data interpretation services to the offshore oil industry. CSEMI has been used for over 20 years by researchers to examine hydrothermal and volcanic systems on mid-ocean ridges.
OHM and their team of leading scientists have refined and developed the CSEMI technique and transformed it into a potent tool for optimizing hydrocarbon exploration and production. Originally formed in 2002 as a spinout from the UK's prestigious National Oceanography Centre with venture capital funding, the company has completed surveys spanning four continents.
The Brighty prospect has similar characteristics to the Buzzard field, one of the largest fields to be discovered in the North Sea in the past quarter century, in which Petro-Canada holds a significant position and which should hit peak production of roughly 200,000 BOE per day later this year - with over a billion barrels of oil in place. In addition to Petro-Canada an independent energy corporation Endeavour International is also very active in the area surrounding Brighty.
Park Place Energy Corp. President and CEO, David Stadnyk, said "The Electromagnetic (EM) Survey on the North Sea Brighty Prospect is an important step with our partner in the development of our major North Sea Prospect".
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