The agreement will allow the two companies to co-operate on offshore seismic survey design and acquisition parameters across Northern Petroleum’s portfolio. Where possible, and as appropriate, Northern Petroleum will seek to leverage on PGS’ proprietary technology such as the ‘GeoStreamer’ seismic acquisition system.
In addition, the company will also gain access to view PGS’s multi-client seismic database, including offshore Italy and the Netherlands.
Graham Heard, exploration and technical director of Northern Petroleum, said: “We look forward to working with PGS Ventures to improve the development potential of our substantial asset portfolio further both in Italy and the Netherlands. Northern will also benefit from access to the PGS data library, which will allow us to evaluate opportunities for additional expansion.”
