Ocean Floor Geophysics acquires rights to use PGS’ CSEM technology

8 September 2020 (Last Updated September 8th, 2020 14:27)

Ocean Floor Geophysics (OFG) has acquired the exclusive rights to use CSEM capability from PGS as part of an agreement signed.

Ocean Floor Geophysics acquires rights to use PGS’ CSEM technology
The system can rapidly acquire high-quality marine CSEM and complements existing seismic data. Credit: Nico Franz from Pixabay.

Ocean Floor Geophysics (OFG) has acquired the exclusive rights to use CSEM capability from PGS as part of a signed agreement.

Under the agreement, OFG has acquired the rights to use the hardware, software and intellectual property associated with the towed streamer CSEM technology.

Developed by PGS, the technology, which complements existing CSEM system to permit a broad operating envelope, allows for the acquisition of high-quality marine CSEM data quickly.

Ocean Floor Geophysics CEO Matthew Kowalczyk said: “Over the last few months we polled many of the oil and gas companies that are experienced users of CSEM and were gratified at the positive market response we received in relation to re-activation of the PGS towed streamer CSEM system.

“We are pleased to be in a position to add the PGS towed-streamer to our OFG Multiphysics division.”

OFG Multiphysics offers processing, interpretation and multiphysics seismic integration, as well as CSEM survey modelling and feasibility studies.

The system can rapidly acquire high-quality marine CSEM and complements existing seismic data when added confidence is required for qualifying acquisition, drilling or relinquishment decisions.

PGS Operations executive vice-president Rob Adams said: “PGS towed-streamer CSEM technology takes advantage of the productivity of the towed streamer method and is a uniquely effective technology compared to any other EM acquisition solutions.

“We are very pleased to enter into this agreement with OFG and we will provide them with support to capitalise on our experience and knowledge in the geophysical market.”

PGS provides advanced subsurface images, plus 2D and 3D data, that are used by energy companies to find and produce oil and gas.