COMPANY PROFILE
MultiClient Geophysical AS was established October 2007 with a view of bringing together experts in geology, interpretation, operations and marketing with intimate knowledge of the inner functioning of the oil industry.
In May 2008 the subsidiary company MultiClient Geophysical Ltd. Pty. was established in Singapore and opened the office in September.
During the second half of 2008 key personnel were in place, leading to first revenue before the end of 2008.
The company's intent is to use the knowledge base to create or participate in projects that reduce the exploration risk by providing high quality data. The company is concentrating on offshore projects in Europe and the Far East . The main business areas are nonexclusive 2D and 3D surveys, reprocessing and data brokerage. The company does not plan to own any seismic vessels, but will charter in capacity as required. This business principle allows us to concentrate on the projects and is ideally suited to take advantage of the weakening market for seismic vessels.
The business rational for the company is that a continued demand for exploration data is foreseen. Oil and Gas are likely to remain of key importance in the energy supply of most nations, and the industry needs to combat an annual decline rate of over 5% from existing fields. MCG is well place to high-grade areas for exploration and attract interest from the investment community.
A typical MCG project would be the provision of data - taking advantage of the latest advances in acquisition and processing technology - prior to a license round in order to reduce risk for explores. A second type of project would be to align a group of clients with interests in adjacent acreage: MCG intends to manage the operational aspects and take risk over open acreage where appropriate. Economies of scale can be achieved that can reduce cash outlay while exploration goals are met. MCG is ideally positioned for these kinds of projects: it has personnel with the right experience to assess exploration risk, manage the business risk and execute the survey.