Blue Ocean Seismic Services - Liquidation

Blue Ocean Seismic Services, a UK/Australian tech company which was developing the world’s first autonomous underwater vehicle to capture seismic imaging data from the ocean floor, entered liquidation on 16 December, with Rob Kirman and Linda Smith of McGrathNicol appointed as liquidators.

According to the company’s website, Blue Ocean Seismic Services was a joint venture created by Blue Ocean, bp ventures and Woodside to commercialise Blue Ocean intellectual property for marine seismic surveys. Its underwater vehicles, which have been tested in the UK, the North Sea and Australia, were designed to make the offshore seismic sector more affordable, safer and more environmentally friendly.

Liquidators have also been appointed to a related UK entity under the same name. The UK entity owes approximately $5.4 million to its creditors, while the Australian entity lists only the UK entity (owed approximately $400 thousand) on its list of creditors.