Lime Rock Partners and 3i have jointly invested £10.6 million in Oslo-based Terra Seismic Services to enhance seismic data acquisition technology for the oil and gas industry.
Target Information
Terra Seismic Services AS, based in Oslo, is an innovative start-up focusing on the seismic offshore market. The company is set to revolutionize data acquisition with its proprietary Four Component (4C) technology, enabling oil and gas companies to collect superior seismic data at competitive prices. This advancement is expected to drive significant growth in the 4C market, characterized by enhanced imaging capabilities of subsurface structures and critical insights into reservoir rock properties and fluid characteristics.
With the imminent financial backing of £10.6 million (130 million Krone) from Lime Rock Partners and 3i, Terra Seismic Services aims to acquire the cutting-edge VectorSeis Ocean seabed data acquisition system developed by Input/Output, Inc. This technology will be integrated into their existing operations to optimize efficiency and data quality.
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Industry Overview
The seismic offshore sector is vital to the oil and gas industry, particularly in regions like Norway where technological advancements are essential for maintaining competi
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Lime Rock Partners and 3i
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in 2004
in a Seed Stage deal
Disclosed details
Transaction Size: $15M