Month: September 2017

 

 

 

 

Improving Reservoir Characterization Using Integrated Interpretation of Towed Streamer EM and GeoStreamer Data

September’s First Break carries a PGS paper which describes a geophysical reservoir characterization workflow that seeks to integrate elastic and electric attributes derived from the inversion of seismic and CSEM data to deliver an estimate of hydrocarbons in place, with a case study from the Barents Sea.

The integration of complementary geophysical data is a technically challenging process, but overcoming these challenges can bring significant rewards. Broadband GeoStreamer® seismic and Towed Streamer EM derived properties, when integrated within a rock physics framework can deliver an estimation of the total hydrocarbon volume in place within a reservoir.

 

PGS employed the workflow on Skrugard (Johan Castberg) in the Barents Sea, demonstrating both the application of Towed Streamer EM data in frontier exploration and improving reservoir characterization for delineating fluid distribution.

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inApril AS has closed on its acquisition of Profocus Systems AS, a Norwegian company developing recording software, data management, and real time quality Control systems for the high-end marine seismic acquisition industry.

“Profocus has played an integral part in our data management system development and we are very pleased to have them formally onboard”, says Vidar Hovland, CEO of inApril.  “Profocus will continue to focus on delivering solutions to marine seismic acquisition industry in addition to joining us in delivering disruptive technology for the new era of seabed seismic acquisition.”

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O&G companies accelerate exploration in FATA

In a bid to achieve self-sufficiency in the energy sector, the government has started extensive oil and gas exploration activities in different parts of the Federally Administered Tribal Areas (FATA) and Khyber Pakhtunkhwa.

MOL Pakistan, an oil and gas exploration company, has commenced the ‘Gravity Survey’ in Tal block of North Waziristan Agency. It is also planning to conduct drilling in the Biland Khel area under the same block.

Oil and Gas Development Company Limited (OGDCL) has completed a 2D seismic survey in the FR Barinu area of Latamber Block in 2016 and stated that drilling operations in the area would start by the end of 2017.

The OGDCL has also planned to initiate the 2D seismic survey in the Wali Block, covering South Waziristan Agency, Lakki Marwat and FR Tank.

At present, the project is under discussion with the law enforcement agencies and hopefully the survey would be completed in the current year. Zhen-Hua, a Chinese company, has completed the 2D seismic survey in the Baska block of FR D I Khan.

Whereas, another oil and gas exploration and production company – Hycarbex – has completed geological mapping in Peshawar block of FR Peshawar, Orakzai and Khyber agencies last year.

Al-Haj, an oil and gas exploration and production company, has completed 80 percent of the 2D seismic survey in Baska North Block of FR D I Khan and South Waziristan Agency. The OGDCL has completed geological mapping in the Orakzai and Tirah blocks and that the 2D seismic surveys would start during the current year.

Sources said that OGDCL and MOL Pakistan have produced Rs 99.538 billion crude oil and natural gas from its different operational fields of Khyber Pakhtunkhwa during the last 17 years. The two leading companies have extracted over 89,998,250 bbl crude oil and 87,217,244 mcf natural gas during the period, they added.

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The next oil major? Service firm Schlumberger’s big bet on production

The world’s largest oilfield services company, Schlumberger NV, is spending billions of dollars buying stakes in its customers’ oil and gas projects – investing in the same ventures it supplies with equipment and expertise.

The new business model gives Schlumberger a say in drilling decisions, oilfield management and even on hiring other Schlumberger units for service contracts, the company has told investors.

The expanded operational authority saves Schlumberger from bidding for each of the many jobs that typically require separate contracts on a large drilling project – effectively locking out the firm’s competitors.

Schlumberger’s gamble could upend the service business model throughout the industry, as rivals including General Electric Co’s unit Baker Hughes say they are considering whether to adopt similar strategies.

The model can supercharge profits on a given job but also ramps up risk, giving the firm more exposure to global oil price swings and potentially big losses if individual projects fail. The downsides have some analysts questioning whether the traditionally conservative firm is taking on too many speculative projects too quickly.

Schlumberger already has taken hundreds of millions in write-downs or impairments on some of these joint ventures, according to its financial filings.

Traditionally, oil producers manage the risk and make the financial and operational decisions on projects; they pay service providers a fee to carry out individual jobs. Firms such as Schlumberger typically supply a wide variety of services, such as well design, along with technology and staff to run rigs. Schlumberger declined to make executives available for interviews and did not respond to written questions about its production business.

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Scot dies in industrial accident off coast of Africa

A Scots oil worker who had recently become a father has died in an industrial accident while working in Africa.

Philip Westerman, of Ellon, Aberdeenshire, died on an oil rig off the coast of Congo. Oil worker Westerman, 30, had recently become a father. Tributes have been paid to the 30-year-old, who was described as a “true gent”.

 

In a post on social media, a friend said: “Truly saddened by the loss of my friend and colleague Phil. He made every day at work a lot brighter when away from the ones we love. Always happy and a true gent.”

Another friend added: “I am in total shock. Everyone loved you Phil. You left an impression on all who met you. Everyone you talked to had a smile on their face. I am so sorry to your family.”

A joint investigation involving his employer, Aberdeen-based Fugro, and police has been launched.

A Fugro spokesman said: “Fugro Subsea Services regret to confirm that there has been an incident offshore in Congolese waters, which has resulted in the fatality of one of our offshore ROV (remotely operated vehicles) personnel.

“Next of kin has been informed and are being supported. Our thoughts with the family, friends and colleagues at this sad time.”

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Recovery Factor Benchmarking report published

The Oil and Gas Authority (OGA) has estimated that an additional 900 million barrels of oil could be extracted from the UK Continental Shelf (UKCS) by increasing the recovery factor (RF) of a prioritised selection of large oil fields.

Recovery factor is the overall proportion of oil expected to be extracted from the UKCS. The OGA’s Recovery Factor Benchmarking report, published today (7 September 2017), presents an estimate of the current expected recovery factor for UKCS oil fields and highlights the ongoing work the OGA is undertaking with industry to identify how economic recovery can be increased.

The current forecast recovery factor of the UKCS is around 43 per cent, which means that over half of the oil that has been discovered is left within the reservoir. Over time, average benchmarked RF performance has increased; but with field complexity also increasing over time, the result is that the overall RF has not significantly changed. Small improvements to these rates could make a major difference to overall reserves, fully aligned with Maximising Economic Recovery UK.

By looking at the potential of a number of prioritised fields, the OGA estimates that an additional 900 million barrels of oil could potentially be produced through increases to RF as a result of improved asset stewardship.

OGA chief executive Andy Samuel said: “This new benchmarking analysis further underlines the significant prize remaining across the UKCS, in this case across a number of producing fields. The OGA will be sharing our results with operators to highlight and quantify opportunities where increasing recovery factor should lead to increased value in line with MER UK. These data help us understand RF performance across the basin, prioritise our asset stewardship reviews with operators and identify new opportunities for improvement and sharing good practices.”

Dave Lynch, BP’s vice president reservoir development, said: “The recovery factor benchmarking analysis produced by the OGA will be of huge value to highlight and develop the potential in existing, producing fields. We will be using this benchmarking work within BP to maximise economic recovery from our assets.”

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Monthly information relating to the number of voting rights and shares issued

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How Cocaine & Meth boomed in the oilfields of Texas

When Joe Forsythe returned to the West Texas oilfields last year after a stint in a drug rehab facility, he figured he had beaten his addiction to methamphetamine.

The 32-year-old rig worker and equipment handler lasted about a year before relapsing.

“It’s easy to get back into that mentality,” said Forsythe, of Midland, Texas, who said he no longer uses drugs after several stints in rehab since 2015. “I’d work 24 hours … I was just plagued with fatigue and needed something to improve my work ethic.”

Forsythe’s experience and others like it reflect a painful flipside of the nation’s shale oil boom—a parallel increase in substance abuse, drug crime and related social ills.

While drug use is a problem among industrial workers nationwide, it raises particular concern in the oil patch as U.S. production surges to record levels in what is already one of the nation’s most dangerous sectors—with a fatality rate about three times the average for other industries, according to 2015 federal statistics.

Drug use is a significant factor in workplace injuries and crimes involving oilfield workers, according to drug counselors, hospital and police officials and court records in West Texas, the epicenter of the U.S. shale sector.

As the shale revolution has spawned waves of hiring since 2010, law enforcement authorities have tracked a boom in drug trafficking and related crime. In Midland and Ector counties, home to many Permian Basin oil workers, state and local police in 2016 seized more than 95 pounds of methamphetamine—up from less than four pounds in 2010.

 

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Large UKCS fields ‘could extract extra 900 million barrels of oil’

Hundreds of millions more barrels of oil could be extracted from the UK Continental Shelf (UKCS) from a selected number of large oil fields.

That’s according to the Oil & Gas Authority (OGA), which suggests this can be done by increasing the recovery factor (RF), i.e. the overall proportion of oil expected to be extracted from the UKCS.

It adds over time, RF efficiency has increased but with field complexity also rising, the overall RF has changed very little.

Its latest report states the current RF forecast is around 43%, which means more than half of the oil that has been discovered is left within the reservoir.

By looking at the potential that exists in a small number of selected fields, the OGA estimates that an additional 900 million barrels of oil could potentially be produced through increases to RF as a result of improved asset stewardship.

It found one potential cause of a lower than expected RF is if a percentage of well stock is shut in for a significant time. This leads to a reduction in overall reservoir access, lowering recovery in many cases.

The OGA has developed an RF benchmark to assist with improving it by 2020 and will use it with industry to identify and quantify opportunities for improvement.

Around £4.6 billion of mergers and acquisitions took place in the UK’s oil and gas sector in the first half of this year.

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Completed first MASS-Modular ROV survey

Magseis is pleased to announce that it has recovered the last sensor on the 4D seabed seismic survey in the North Sea. This marks the successful completion of the first large-scale survey conducted with Magseis’ modular ROV-crew.

Commenting on the completion of the survey, Magseis CEO Idar Horstad said: “This proves the efficiency of our modular-ROV based concept. We believe the concept holds significant potential for our clients in conducting more cost-efficient and flexible 4D surveys. Magseis is now actively marketing the crew across several regions”.

This information is subject of the disclosure requirements according to section 5-12 of the Norwegian Securities Trading Act

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