Magseis Renewables AS announces two new technology pilot projects for CCS and Offshore Wind in collaboration with TGS

August 24, 2021

(Oslo, 24 August 2021) Magseis Renewables AS, a wholly owned subsidiary of Magseis Fairfield ASA, today announced two new technology pilot projects for carbon capture and storage (CCS) and offshore wind in collaboration with TGS.

The first project will utilize high-resolution 3D seismic acquisition in Norway at a carbon storage area to demonstrate technology for extremely detailed imaging of the full section from the seabed to the targeted storage reservoir.

The second project will utilize ultra-high-resolution 3D seismic acquisition in Denmark over an offshore wind farm with known near seabed challenges to demonstrate applying a high-frequency source coupled with TGS’ data processing technologies.

Both tests will combine Magseis Fairfield’s Extended High-Resolution (XHR) acquisition configurations with TGS’ proprietary imaging software to demonstrate geophysical solutions that deliver the resolution needed at the cost level indicated by offshore wind and CCS players.

“We look forward to working together with TGS on these key projects that will highlight the value of high resolution seismic for CCS and offshore wind market. We believe combining our XHR technology with TGS’ imaging solutions will result in superior data.”, says Renewables Director, Tone Trudeng.

Acquisition will complete before the end of Q3 with final data available for viewing and workshops before the end 2021.

For further information, please contact:

Tone Trudeng, Renewables Director
Tel: +47 957 60 427
Email: tone.trudeng@magseisfairfield.com

Mark Ivin, CFO
Tel: +47 948 88 606
Email: mark.ivin@magseisfairfield.com

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Magseis Fairfield is the global leading provider of ocean bottom seismic (OBS) technology and data acquisition projects. The company has a flexible business model with full scale node operations, as well as lease and sale models. The Marine Autonomous Seismic System "MASS" nodes and the range of Z-nodes combined with handling systems and source technology enables market leading deployment speed and highly cost-efficient acquisition of data with exceptional quality.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.