£295k boost for North Sea seismic exploration tool

A grant totalling almost £295,000 has been awarded for a research and development project aimed at cutting costs and increasing efficiency in the oil and gas sector. The funding from […]

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By Priyanka Shrestha

A grant totalling almost £295,000 has been awarded for a research and development project aimed at cutting costs and increasing efficiency in the oil and gas sector.

The funding from Scottish Enterprise will allow Concept Systems, a subsidiary of ION Geophysical Corporation, to enhance the functionality of its Orca® software – a survey planning and management tool for seismic exploration.

The two-year project is expected to create three new jobs and safeguard a further nine.

Scottish Economy Secretary Keith Brown welcomed the announcement: “The investment from Scottish Enterprise will help to maximise the project’s value, its worth to Scotland and the opportunities for those employees involved.

“Innovation remains crucial to the oil and gas sector for maximising economic recovery and reducing costs, ultimately securing the long term sustainability of the North Sea.”