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Norwegian Octio Group completes tests of permanent reservoir monitoring system.

NORDIC BUSINESS REPORT-20 October 2009-Norwegian Octio Group completes tests of permanent reservoir monitoring system(C)1994-2009 M2 COMMUNICATIONS http://www.m2.com

20 October 2009 - Norwegian shipping company GC Rieber Shipping (OSL: RISH) said today that its unit Octio Group had successfully completed the test of its new permanent reservoir monitoring system offshore Haugesund, on the west coast of Norway.

The test was designed to demonstrate the system's performance in both trenched and untrenched mode and with different surface coupling solutions. The results of the test will be used to enhance deployment methods with the purpose of reducing the installation cost and securing a safe and fast-system deployment.

The system's primary use will be to visualise the dynamic behaviour of the oil and gas reservoirs for increased production. It has been designed for 25 years lifetime and can be deployed on offshore fields down to more than 2,000 m water depth.

The test marks Octio's transition from a research and development company to an integrated service company, Octio's CEO Bjarte Fageras said.

The company is now establishing offices in Houston and Brazil to strengthen its presence in the two emerging markets for 4D operations, Fageras added.

((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))

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Publication:Nordic Business Report
Article Type:Brief article
Geographic Code:4EXNO
Date:Oct 20, 2009
Words:209
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