Finding Petroleum - Energy Ventures invests £3.2M in ffA

Join | Existing Member Login

You are Home » News » View Article

Energy Ventures invests £3.2M in ffA

Friday, October 22, 2010 in Exploration / Seismic

Foster Findlay Associates (ffA), a provider of 3D seismic analysis software and services to the oil and gas industry, has received £3.2 million in investment from Energy Ventures, a venture capital group.

Foster Findlay Associates (ffA), a provider of 3D seismic analysis software and services to the oil and gas industry, has received £3.2 million in investment from Energy Ventures, a venture capital group.

The funding will be used to roll out a new generation of 3D seismic analysis tools, to double the company’s research and development team and to expand its global sales and support division.

ffA expects to increase its payroll from 31 to more than 50 in the next year and predict turnover will increase to £11-£12 million within three years. With headquarters in Newcastle and offices in Aberdeen, London and Houston, ffA works with over 100 E&P companies and its technology is deployed worldwide.

ffA managing director, Jonathan Henderson, said: “We have some very exciting products in development at the moment and this investment will help us to roll out these products as quickly as possible and at the same time significantly increase our sales and customer support network."

External Links
» ffA