Offshore staff

HOUSTON --Reservoir Exploration Technology ASA has signed an exclusive agreement to use KMS Technologies' electromagnetic technology for cable-based seafloor applications.

KMS has a patented transient controlled source electromagnetic (tCSEM) technology which it says has the potential for a wider range of applications including shallow water.

"We see significant synergies between KMS' tCSEM cable-based technology and our own ocean bottom multi-component acquisition technology. This synergy allows the potential to acquire KMS tCSEM with our seismic crews, eliminating the need of a dedicated EM crew. The result will be improved quality EM data in addition to reducing overall acquisition cost for our oil company clients," says RXT CEO Michael Scott.

"We are very excited about the possibilities this alliance brings in commercializing what we believe will be the next generation of marine EM technology, which we expect will result in a step- change improvement in data quality leading to better discovery and recovery rates," says Kurt Strack, KMS president.

5/16/2007