PETRONAS Signs up to Joint Industry Project (JIP) for Low Frequency Seismic Research
14 April 2010
Spectraseis, a leading provider of low frequency seismic solutions to the upstream oil & gas industry, today announced that Malaysian oil & gas giant, PETRONAS is the latest major oil & gas company to join the Low Frequency Seismic Partnership (LFSP).
PETRONAS has joined existing members - Cairn India, Chevron, GDF Suez and Pemex amongst others - in the research and development of low frequency seismic technologies as part of the three-year JIP.
The news follows a number of recent Low Frequency (LF) seismic milestones, including the completion of an extensive synchronous survey for Shell in Egypt, and the current acquisition of the most comprehensive LF data set to date over a gas storage facility in France, a project sponsored by the LFSP.
Spectraseis CTO, Rob Habiger commented:
"Today's news that PETRONAS has joined the LFSP is further confirmation that low frequency seismic is continuing to resonate with E&P operators as they look to better manage risk, reduce costs and complement existing seismic data in their exploration activities. The experience and technical expertise PETRONAS brings to the table will be invaluable to us as we look to further progress the theory, methods and applications of LF seismic technology."
The scope of the LFSP program covers key application elements of low frequency seismic technology, such as data acquisition and processing,
The news follows a number of recent Low Frequency (LF) seismic milestones, including the completion of an extensive synchronous survey for Shell in Egypt, and the current acquisition of the most comprehensive LF data set to date over a gas storage facility in France, a project sponsored by the LFSP.
Spectraseis CTO, Rob Habiger commented:
"Today's news that PETRONAS has joined the LFSP is further confirmation that low frequency seismic is continuing to resonate with E&P operators as they look to better manage risk, reduce costs and complement existing seismic data in their exploration activities. The experience and technical expertise PETRONAS brings to the table will be invaluable to us as we look to further progress the theory, methods and applications of LF seismic technology."
The scope of the LFSP program covers key application elements of low frequency seismic technology, such as data acquisition and processing,
as well as fundamental theoretical studies, in partnership with researchers at Spectraseis, the Swiss Federal Institute of Technology (ETH) in Zurich and the University of Bern, Switzerland. Participants will be at the leading edge of the latest research on low frequency seismic applications and will learn how to extract the maximum value from this technology for their companies.
Established in 2003, Spectraseis is the principal technology and service provider in the fast-emerging field of low frequency seismic geophysical surveys and data analysis. Spectraseis helps oil and gas companies reduce risk and more efficiently find and produce hydrocarbon reserves by providing new subsurface information. In October 2007, Spectraseis won the 2007 World Oil Award for Best Exploration Technology. In 2009 Spectraseis received the annual Swiss Economic Award in the category high-tech/biotech.
PETRONAS was incorporated on 17 August 1974 as the national oil company of Malaysia, vested with the entire ownership and control of the petroleum resources in the country. It has since grown from merely being the manager and regulator of Malaysia's upstream sector into a fully integrated oil and gas corporation, ranked among the FORTUNE Global 500 ® largest corporations in the world.
Established in 2003, Spectraseis is the principal technology and service provider in the fast-emerging field of low frequency seismic geophysical surveys and data analysis. Spectraseis helps oil and gas companies reduce risk and more efficiently find and produce hydrocarbon reserves by providing new subsurface information. In October 2007, Spectraseis won the 2007 World Oil Award for Best Exploration Technology. In 2009 Spectraseis received the annual Swiss Economic Award in the category high-tech/biotech.
PETRONAS was incorporated on 17 August 1974 as the national oil company of Malaysia, vested with the entire ownership and control of the petroleum resources in the country. It has since grown from merely being the manager and regulator of Malaysia's upstream sector into a fully integrated oil and gas corporation, ranked among the FORTUNE Global 500 ® largest corporations in the world.