Edinburgh, 24 July 2006: Reservoir Imaging Ltd (RIL), the newly formed 4D seismic software services consultancy based in Edinburgh Scotland, is pleased to announce that Sercel, has purchased a minority stake in the company. Sercel, the world's leading seismic acquisition equipment manufacturer, has been impressed by the rapid progress made by RIL. In less than a year since it started, RIL has already won key contracts from companies such as BP, CGG and Statoil.
RIL was formed in September 2005 by a group of managers, all previously with Concept Systems. Its goal is to assist oil and gas companies optimize the planning and execution of 4D marine seismic surveys, widely seen as the key technique for maximizing the recovery of hydrocarbons from producing reservoirs. RIL has developed its own software for performing 4D processing and attribute generation. Its solutions are delivered using GIS (geographical information systems) designed to integrate with oil company processing and interpretation procedures.
RIL Managing Director Keith Watt said: 'We are delighted that a company of Sercel's significance in the industry is supporting our focus on 4D seismic as the technology of the future. The investment capital and recognition of the knowledge and experience we have to offer is very welcome; it will enable us to accelerate the company's development to the next level.'
About Sercel: A world leader in the seismic acquisition business for 50 years, the company designs, manufactures, and supports a full range of high-tech integrated equipment for hydrocarbon exploration in land, transition zone, ocean bottom, marine, and downhole environments.
Sercel is a wholly owned subsidiary of Compagnie Générale de Géophysique (CGG).
About RIL: RIL is a small but rapidly expanding group formed to serve the burgeoning market for 4D marine seismic surveys. The company specializes in providing design, planning, and acquisition QC to ensure that each survey in a 3D time-lapse (or 4D) seismic project can be repeated as accurately possible. Only if all the survey parameters are observed can companies track the performance of oil and gas reservoirs by comparing images of the subsurface recorded over time during production.