Trio enters into seismic pact

VLADIVOSTOK, September 2, 2016 – BP, Rosneft and Schlumberger on Friday announced they would be collaborating on seismic research and development through technology agreements.

Signed on the sidelines of the Eastern Economic Forum, the companies will kick off their collaboration with work on cableless onshore seismic acquisition technology. The effort will see Rosneft become a party to BP’s development work on the technology, currently underway with Schlumberger’s seismic unit, WesternGeco. The system is expected to be ready for use in two years’ time.

“Given the international status of the research project, the product to be created will have a significant potential on global markets,” Rosneft CEO Igor Sechin said in a statement.

In related news, Japanese media reported that the country may pour close to USD 10 billion in investment into Rosneft as part of several co-operation initiatives expected to be announced after the meeting of Prime Minister Shinzo Abe with President Vladimir Putin later on Friday. Among the ideas floated are joint oil and gas surveys across Eastern Siberia.

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