August 14th 2018 : Ikon Science has been awarded one of the four contracts from the Oil and Gas Authority (OGA) designed to stimulate exploration activity on the UK Continental Shelf (UKCS). The study is a 40 well rock physics and seismic calibration catalogue of the Central North Sea and East Shetland Basin.

Sven Larsson, Senior Geophysicist at the Oil and Gas Authority said: “The aim of the Ikon Science study is to provide a comprehensive geophysics analysis and further insights into the mature reservoirs in the Central North Sea and East Shetland basin in preparation for next year's 32nd Offshore Licence Round. By having access to high-quality and trusted data, reports and studies, the OGA is committed to supporting industry in identifying additional exploration opportunities, leading to the discovery of new oil and gas reserves.”

This initiative builds upon the 2017 enterprise from the OGA, whereby Government funding made a selection of Ikon Science's existing regional Roknowledge Rock Physics and GeoPressure studies available for Operators use ahead of the 30th rounds.

Mark Bashforth, Ikon Science CEO, commented “Ikon Science has built a business based on the value of using rock physics to understand and predict regional geology. By making Ikon's project in this area available to all it is evident that the OGA is committed to driving maximum efficiency and profitability of the UKCS''.

For more details on the other contracts awarded by the OGA or to read the official OGA press release please visit their website.