According to the company, the agreement regulates the further work leading up to a full-scale pilot test which is planned for completion in early 1Q 2016 and through to the commercial deployment of the system which is planned for early 2017. The project will be jointly financed by Shell and Magseis with a significant contribution from Innovation Norway.
Magseis CEO Ivar Gimse said: “The agreement marks an important milestone in our work to capitalize on the unique characteristics of our sensors (small size, low cost, depth rated to 3,000 m) in order to supply highly efficient ocean bottom seismic acquisition in ultra-deepwater with the positioning accuracy required for 4D work. This system will be an important add-on to our product portfolio and, based on the feedback from clients, we believe it holds great commercial potential.”
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