In November 2014, Geowave signed a memorandum of understanding (MOU) with Seismotech Ltd. Seismotech a Greek company providing a range of proprietary service in 3D Passive Seismic Tomography.
Seismotech is a leading global provider of passive seismic data and associated products to the oil and gas industry. Seismotech specializes in the planning, acquisition, processing, interpretation, marketing of 3D Passive Seismic Tomography surveys worldwide.
Specifically, Seismotech employs new, high-tech methods for oil and gas exploration and oil field development under service contracts with oil and producing companies, both foreign and domestic. An advantage that Seismotech Passive Seismic methods have over competing seismic exploration service companies derives from its use of the new developed geologic structure imaging technology. This technology provide significant additional information concerning the location and physical conventional seismic methods, and does so at a substantially lower cost.