Three companies have formed a joint venture to develop, pilot test, and commercialise a seismic system for the permanent monitoring of offshore reservoirs.
The new system, which will sit permanently on the ocean floor, will enable geoscientists to take time-lapse (4D) measurements of seismic responses from which they can infer both pressure and saturation changes, as well as fluid movements, within hydrocarbon reservoirs.
The three companies involved – seismic solutions provider Input/Output, Hydro Technology Ventures (HTV), the corporate venture capital arm of Hydro Oil and Energy, and privately held Reservoir Innovation – will all hold equal shares in the new company.
I/O will license technology to the company and will contribute personnel to develop the system, while HTV will identify an asset within their portfolio upon which to field trial the system.
It’s expected that a pilot system will be in place before the end of 2008 on a producing HTV asset. Shortly thereafter, the system would be made available to operators on a worldwide basis.