Spectraseis Announces Joint Industry Project (JIP) for Low Frequency
Seismic Research
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ Zurich, Switzerland, October 24, 2009. Spectraseis, a leadingprovider of low frequency seismic solutions to the upstream oil & gasindustry, today announced the formation of a multi-year JointIndustry Project (JIP) for the research and development of lowfrequency seismic technologies for hydrocarbon reservoir detectionand characterization. This cooperative program is called the LowFrequency Seismic Partnership (LFSP).Confirmed participants in the LFSP, which will run for three yearsthrough 2012 are Cairn, Chevron, ExxonMobil, GDF Suez and Pemex. AnAsian national oil company will join the LFSP over the coming months.The scope of the LFSP program will cover key application elements oflow frequency seismic technology, such as data acquisition andprocessing, as well as fundamental theoretical studies, inpartnership with researchers at Spectraseis, the Swiss FederalInstitute of Technology (ETH) in Zurich and the University of Bern,Switzerland. Participants will be at the leading edge of the latestresearch on low frequency seismic applications and will learn how toextract the maximum value from this technology for their companies.Spectraseis CTO, Rob Habiger, said:"We are very excited to be launching this industry collaborationtoday which will expand the body of core research around thisimportant topic. We are looking forward to working with anoutstanding group of international operators. The experience andtechnical expertise they bring will help us to continue our strongfocus on the application of low frequency seismic solutions to meetimportant industry challenges."Established in 2003, Spectraseis is the principal technology andservice provider in the fast-emerging field of low frequency seismicgeophysical surveys and data analysis. Spectraseis helps oil and gascompanies reduce risk and more efficiently find and producehydrocarbon reserves by providing new subsurface information. InOctober 2007, Spectraseis won the 2007 World Oil Award for BestExploration Technology. In 2009 Spectraseis received the annual SwissEconomic Award in the category high-tech/biotech.Note to editorsAbout SpectraseisSpectraseis is the principal technology and service provider in thefast-emerging field of low frequency passive seismic geophysicalsurveys to help oil and gas companies more efficiently find andproduce hydrocarbon reserves.Zurich, Switzerland-based Spectraseis researches and appliesproprietary technologies to acquire and analyze low frequency (<10Hz) seismic background waves continuously present in the Earth'ssubsurface in order to identify spectral attributes indicating thelikely presence or absence of hydrocarbons and other characteristicsof subsurface reservoirs within a survey area. The resultinginformation can greatly reduce the risk and improve the success rateof costly oil exploration and drilling activities and improvedecision-making throughout the life of a field. Broad adoption of thecompany's technology by the global oil and gas exploration andproduction industry can be expected to save billions of dollars eachyear which is currently expended on non-productive explorationsurveys and dry wells, as well as significantly improve theindustry's environmental performance.For more information, please visit www.spectraseis.com ###All product and company names herein may be trademarks of theirrespective owners.For further information, contact:Brice Bouffard, VP Marketing, Spectraseis AGTel. +41 43 500 5849 or +41 78 907 0549brice.bouffard(at)spectraseis.comRobert (Rob) Habiger, Chief Technical Officer, Spectraseis AGTel. +41 43 500 5827rob.habiger(at)spectraseis.comPaul Fisher, Axiom Communications ManagementTel: +44 (0) 1285 713 776pfisher(at)axiomcomms.comhttp://hugin.info/137808/R/1349908/325505.pdfhttp://hugin.info/137808/R/1349908/325506.jpg --- End of Message ---Spectraseis AGGiessereistrasse 5 Zurich SwitzerlandListed: Main Market in SIX Swiss Exchange;
Datum: 25.10.2009 - 17:18 Uhr
Sprache: Deutsch
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