16 more companies join Barents Sea seismic project
- Business & Finance
The project for joint seismic acquisition in the southeastern Barents Sea has been joined by 16 new companies.
A total of 33 companies are now part of this project, which will secure good data quality and low acquisition costs.
A joint acquisition of data will also limit any possible negative consequences for the fishing industry.
The recently opened southeastern Barents Sea is part of the 23rd licensing round on the Norwegian continental shelf in 2014. At the request of the Norwegian Ministry of Petroleum and Energy (OED), the Norwegian Oil and Gas Association launched an initiative for a joint project relating to acquiring 3D seismic data from blocks in this area. Statoil took on the operator role for the acquisition.
On 10 December last year, 17 companies joined the project as early participants. A further 16 companies followed suit after the OED on 14 February circulated a proposal regarding block announcements for public consultation.
A doubling of the number of companies in the project shows that the initiative enjoys solid industry support. It is a project that will further reduce costs while ensuring good quality data by utilising the companies’ concerted competencies.
In March the project will announce the awarding of contracts and present further plans for the acquisition.
Press Release, February 26, 2014