Norsk Hydro invests in Swiss geophysical technology company
Published in
Bloomberg News
Publication date
21 November 2005
Summary
Hydro has invested in a Swiss company developing new geophysical technologies to determine whether promising geological formations contain oil or gas.
Zurich-based Spectraseis Technologie AG provides surveys and data processing services using ultra-sensitive spectrometers and proprietary software to generate maps showing probable distributions of hydrocarbon deposits in a survey area, based on the analysis of passive, low frequency seismic data.
"The method increases the probability of discovery and helps improve exploration efficiency by reducing costs and the time it takes to find oil and gas," says Arne Frøiland, Technology Ventures' investment manager.
Zurich-based Spectraseis Technologie AG provides surveys and data processing services using ultra-sensitive spectrometers and proprietary software to generate maps showing probable distributions of hydrocarbon deposits in a survey area, based on the analysis of passive, low frequency seismic data.
"The method increases the probability of discovery and helps improve exploration efficiency by reducing costs and the time it takes to find oil and gas," says Arne Frøiland, Technology Ventures' investment manager.
