Month: October 2017

 

 

 

Fugro: SOCAR holds training on security at ASOIU

On October 27 “SOCAR Fugro” LLC held a training on labor security and technical safety for students of the Faculty of Geological Exploration at Azerbaijan State Oil and Industry University (ASOIU). The training was attended by SOCAR Fugro HSE specialists Jabrayil Alasgarov and Azer Imanov, Human Resources, Training and Development Manager Aygun Mammadova and students.

The training emphasized the significance of health, environment and labor security rules, providing comprehensive information on the principles of compliance with these guidelines. Then, students were told about labor security and technical safety issues. The trainers and participants also discussed the acquisition of guidance before starting the work, pre-negotiating and minimizing the incidents, that might occur during the work, and the issues of continuing control. It was noted that safety rules in the oil, gas and chemical industries are of particular importance.

Notably, the main purpose of the training is to encourage students and young people to pay attention to safety rules wherever they are. From March 2017, SOCAR Fugro cooperates with ASOIU within the framework of training and development of young professionals in accordance with nationalization policy. Trainings, excursions and summer internship project have been implemented as part of this collaboration. During the summer internship, it was taken into account that young people were uninformed about the labor security and safety rules. Thus, safety training started to be held as of new school year.

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Geometrics: New product announcement

The Geometrics’ Atom is here!

Geometrics is excited to announce the release of the Atom, our highly anticipated wireless seismograph system. We have nearly 50 years of being the premier supplier of geophysical equipment experience built into the Atom, which is the newest product in our line of rugged, highly reliable seismographs.

We shipped our first order, a 72-channel system, this week and celebrated the accomplishment on Friday!

The Atom eliminates the need for heavy cables. Users no longer need to worry about laying cables across roads or driveways, getting tangled in obstructions, or being constrained by the pre-determined takeout spacing. The new Atom system allows users to perform surveys in highly trafficked urban environments that may be problematic for cabled systems. Data from the Atom can be retrieved in three ways; wirelessly using a Wi-Fi access point, via USB, or by copying the data from a USB card. Another feature is that the Atom can be used with our Geode system to expand your current system.

The Atom system comes with geophones, charger, software, and an access point to plug into your computer. Atom array sizes are configurable to meet your needs, so contact us to speak with a specialist and how you can purchase your own Atom system. Or, if you’re interested in seeing a demonstration, contact us for our show schedule or online tutorial.

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Polarcus: Receives LOI For MC Project In Middle East

Polarcus Limited (“Polarcus” or the “Company”) is pleased to announce that the Company has received a Letter of Intent (“LOI”) from an undisclosed client to pre-fund a multi-client XArray 3D seismic acquisition project in the Middle East.

The project will commence in Q4 and run for approximately two months.

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Remøy Group: Sells seismic vessel Ocean Odyssey

A Remøy Group subsidiary, Remøy Standby, has sold the Ocean Odyssey vessel to a Norwegian client, Maritim Research I, a subsidiary of Maritim Management.

Ocean Odyssey is a seismic research vessel of Aker AH 03 design, built by the Norwegian Søviknes yard in 2005. The vessel previously worked for WesternGeco until its early re-delivery in 2016.

The vessel was designed to operate globally, but was predominantly operating in the Gulf of Mexico.

Remøy said on Friday that the Ocean Odyssey was sold at a fair market price and the proceeds from sale will be used to strengthen the cash position in the company.

Following the sale, the vessel was towed by the new owner from her lay-up in Måløy to Westcon shipyard in Ølen for re-mobilization.

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Paradigm: The colour bar has been raised

The current E&P industry downturn has greatly reduced E&P spending. Most organizations are frozen in place with the software they were using in 2014. This reaction is understandable, but E&P remains a highly competitive industry. Only those companies that have up-to-date tools are going to prevail and create value for stakeholders.

There has been a shift over a period of time in geophysical visualization technology, yet a large number of interpreters are still using older software which lacks the “new basics”.  These new basics include RGB and HSV blending, as well as a geological time (Geo-time) consistent interpretation framework. The intent of this blog post is to sound a “Call to Action” to all companies that are still using the old technology, to urge them to move onto more modern platforms quickly.

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CGG: Notification of share ownership threshold crossed

At the request of the French Autorité des Marchés Financiers, the Company states that today Dimensional Funds Advisors LLP informed them that they had crossed below the 1% thresholds of CGG capital and voting rights.

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PGS: Centralization, Simplification & Streamlining

Rune Olav Pedersen took over as CEO of PGS on 1st September and introduced himself with an announcement that PGS has to change to survive and thrive in the current oil market. He should know. Not only has Pedersen been employed at the top levels of the Company since 2010, he has been leading the strategy effort for the last two years, and a central member of the executive management team.

The new CEO’s background is law, bringing with it shrewd negotiation skills and a capacity to comprehend complex systems and grasp the big picture without losing sight of the detail. Change is an opportunity for new growth, not something to be afraid of, he says with the conviction of experience.

Master of Change
Though not a scientist, Rune Olav has an inquiring mind that extends into the realms of technology. At school he followed a technical path and then entered a two-year officer training degree in the Norwegian navy with a major in electrical engineering, and the intention to progress to the Norwegian University of Science and Technology. The navy triggered a new curiosity in the workings of the world which led him to set his sights on a different path: the law. His leadership style seems natural, unforced and clear. He values teams and likes structures which distribute authority and autonomy, as they make it possible to achieve far more, he contends. By his mid-thirties Rune Olav was one of the youngest partners of a major Norwegian law firm. His specialization was oil and gas. This led to an engagement by PGS as legal counsel, where Reinhardsen and ultimately the Board of PGS were impressed by his judicial and personal skills. A new spark of curiosity was ignited, the catalyst for another change. Pedersen left the relatively safe sinecure of an Oslo legal partnership, to take on a new challenge including varied line organizational responsibility, combined with an executive MBA from London Business School.

What’s Happening at PGS
This week Rune Olav Pedersen announced radical cuts within PGS and a new simpler structure: Sales & Services, plus Operations & Technology. The team will be consolidated in regional European and US headquarters, with smaller satellite offices. Competent local client-facing staff will coordinate with central Imaging hubs. The fleet will focus on a fixed core of six vessels, and a flexible component of two more. Crewing of the flexible element will be based on a combination of regular and temporary employees.

Does the new organization indicate a new direction? “Yes and no,” says Pedersen. “The strategy of three markets: MultiClient, Imaging and Marine Contract based on vessel ownership and technology, is still sound, but our financial strategy is not. The Company has too much debt. We need to adjust our definition of conservative debt structure to recognize that the cycle can be far longer and deeper than we previously thought.” The organization has to be reset, he explains, to make it more efficient. “Companies over time are weakened by a static structure because the negative effects of the given priorities become visible. No structure is perfect forever. As the external environment changes, inevitably any solution becomes dysfunctional. Inefficiencies grow. The PGS organization set by his predecessor in 2010 built three strong independent businesses: MultiClient, Marine Contract and Imaging. The result included benefits in directing corporate energy, authority and focus, but also silos. The disadvantages have grown and it’s time to change.

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Polarcus: Awarded XArray 3D project in South America

Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) is pleased to announce that the Company has been awarded an XArray 3D seismic acquisition project in South America for an undisclosed client.

The project will commence in Q4 2017 and run for approximately 10 weeks.

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Our value as geophysicists is our ability to make recommendations to management, clients and partners regarding the value of their data and/or property.  Subsequently, we act as investment advisors, with significant decisions being made based upon the work that we do. Whether undertaking data quality control, reconnaissance of a large frontier area, detailed prospect generation or assessment of a data room, it is advantageous to be an efficient geophysicist, in order to allow sufficient time to collaborate and think deeply. Using Paradigm 3D Canvas and a marine dataset, we will step through a workflow to efficiently evaluate seismic data, identify pitfalls, and present some tips and tricks for the seismic interpreter.

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Geokinetics: Logs 2M operational hours without an LTI

Leveraging our SYNERGY Operations Management System to proactively mitigate risk, Geokinetics has reached a significant safety milestone.  SYNERGY OMS brings together Health, Safety and Environmental systems, Project Management Office and Supplier Qualification Systems as a results-driven approach to QHSE across our organization.

SYNERGY Operating Management System Overview

 

From the field forward, our results-driven approach to QHSE enhances performance across the organization.
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Geokinetics leverages our SYNERGY Operating Management System to integrate Quality, Health, Safety, Environmental Performance, Security, and Social Responsibility into every aspect of our global operations.
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The SYNERGY OMS blends leading industry standards with our own expertise, and is built on four fundamentals: Leadership, Risk Management, Implementation, and Continuous Improvement.
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This centralized, built-for-purpose OMS cascades from the corporate offices through our global facilities, offices and field crews.

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Implemented in 2014, the SYNERGY OMS successfully delivers unique acquisition technologies in safe, environmentally sound, efficient and reliable operations around the world.

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