NYK Enters Geophysical Survey Market Through OGF
Ocean Geo-Frontier (OGF) has signed a consignment service agreement with Japan Oil, Gas and Metals National Corporation (JOGMEC) to conduct geophysical surveys in Japan, utilizing a seismic vessel.
NYK teamed with Hitachi and PGS Geophysical (PGS) to establish OGF in December 2018.
Through OGF, NYK is entering the geophysical survey business at the most upstream part of the energy value chain and making efforts to accumulate experience and technical expertise in new fields, as well as expanding the business by concluding survey contracts, the company explained.
OGF will use JOGMEC’s seismic vessel for a wide range of business activities, including basic geophysical surveys, vessel operation and management, geophysical data acquisition, data processing, and the supply of related equipment.
This business is based on the Cabinet Office’s Basic Plan on Ocean Policy for Japan, with the aim to acquire detailed geological information in sea areas around Japan for the development of domestic resources.
The service agreement will continue for up to 10 years through annual renewals.