Prize for seabed logging
This year’s World Oil Award for the best exploration solution has been won by Statoil Innovation subsidiary Electromagnetic GeoServices (EMGS) for its seabed logging technique.
The prize is one of 13 presented annually to the international oil industry by the US trade journal World Oil.
“This presentation means that we have secured recognition not only in Norway but also internationally,” says EMGS president Terje Eidesmo.
“We’re no longer a newcomer, but are established with a reputable product which provides us with a position in the exploration sector.”
The company was established in 2002 by Statoil scientists, with Statoil Innovation as the majority shareholder, and an annual turnover of roughly NOK 100 million.
Its prize-winning seismic surveying technology replaces sound waves, which cannot tell hydrocarbons from water in the sub-surface, with electromagnetic waves able to make this distinction.
The solution has been developed by Statoil and licensed exclusively to EMGS. Originally applicable only in waters more than 500 metres deep, it can now be used in depths down to 300 metres.