4C seismic start-up

Venture capital company 3i and energy private equity provider Lime Rock Partners, based in Westport, Connecticut, are investing NKr130 milion in Oslo-based offshore seismic specialist Terra Seismic Services (TSS). This is a start-up company, which will focus on development of a 4C data acquisition system and in-sea system handling techniques to allow seismic data to be acquired at a more attractive price.

Venture capital company 3i and energy private equity provider Lime Rock Partners, based in Westport, Connecticut, are investing NKr130 milion in Oslo-based offshore seismic specialist Terra Seismic Services (TSS). This is a start-up company, which will focus on development of a 4C data acquisition system and in-sea system handling techniques to allow seismic data to be acquired at a more attractive price. 3i's Norwegian oil and gas investment manager Hans Middelthon claims that in a recent assessment of fields either producing or under development on the Norwegian and UK shelves, over 60% would benefit from application of 4C seismic. TSS also aims to offer its service outside the North Sea.

05/06/04

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