Pinsent Masons advises Blue Ocean Seismic Services Limited on its $10 million Funding Round Series

Blue Ocean Monitoring had formed the oil and gas venture with Woodside Energy in 2019. Blue Ocean Monitoring is a Perth based a global ocean survey company, and Woodside, Australia's leading natural gas producer. The venture was formed to explore the application of autonomous underwater vehicle (AUV) technology for marine seismic acquisition. Pinsent Masons was involved in the initial establishment of BOSS, which included advising Blue Ocean Monitoring on the company's formation. The Series A investment, announced in October 2020, means that BOSS is now fully funded through to pre-commercial stage. It will allow BOSS to continue its development of AUV technology for offshore seismic surveys up to pre-commercial stage. The technology has been designed to significantly reduce the cost, risk, environmental impact and time currently required for offshore exploration of oil, gas and carbon storage. The Pinsent Masons team advising BOSS on its Series A fundraising was led by partner Brian Scott and lawyer Ananya Mittra with support from the team in the UK led by Rosalie Chadwick. Commenting on the deal, corporate partner Brian Scott said: "We are delighted to have assisted Blue Ocean Seismic Services on this fundraising with top tier investors. This technology addresses a very material market and does so with a highly efficient and sustainable technology that aligns with the future needs of the industry." "It's fantastic to support an exciting company whose story originates from WA on the next step to being a global business"