12 May 2005
Offshore Hydrocarbon Mapping plc nominated for UK's
most prestigious engineering award
Offshore Hydrocarbon Mapping plc (OHM), a provider of remote electromagnetic sensing services designed to detect the presence of offshore oil and gas, has been nominated as one of the four finalists for the 2005 Royal Academy of Engineering MacRobert Award, the UK's most prestigious engineering prize.
The result of the award will be announced in June, when the winners will receive a cheque for £50,000 and a medal from HRH the Duke of Edinburgh.
OHM was formed to commercialise technology resulting from extensive academic research at University of Southampton's prestigious Oceanography Centre. The company listed on London's Alternative Investment Market (AiM) in March 2004, and soon after it moved its headquarters to new premises on The Offshore Technology Park at Bridge of Don, Aberdeen, where it has built dedicated workshops for receiver calibration and maintenance.
Dave Pratt, Chief Executive, commented: 'OHM has made enormous progress over the last three years and I believe our nomination for this most prestigious of awards reflects our success in developing and commercialising our leading edge technology. Looking ahead, our major challenge is to further develop the quality and scope of our CSEMI technique whilst accelerating industry's adoption of our offering.'
Ends
For further information, please contact:
Peter Reilly/Patrick d'Ancona, Aquila Financial 020 7849 3319/3326
www.ohmsurveys.com
Notes to editors
OHM's survey method transmits an electromagnetic field into the earth, which is modified by the presence of subsurface resistive layers. These changes in the field are measured and the resulting data is processed to provide information on the resistive structure of the subsurface. Because hydrocarbon accumulations are generally very resistive, this method can indicate the presence of oil and gas in deep water situations, and can detect and map the edges of such accumulations. This reduces the risk of drilling non-commercial exploration wells and can reduce the need for appraisal drilling, thereby creating considerable value for oil explorers.
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