Global artificial intelligence (AI) seismic interpretation experts Geoteric are continuing to disrupt the market with another world-first software release. The new technology is game-changing for energy companies and will prove critical to operators; enabling them to de-risk well placement, reduce their environmental impact and increase profitability by better predicting future production.
Adnoc has the goal of being the worldโs lowest-cost oil producer of choice. Unlike some of its IOC competitors, struggling to come to terms with the demands of meeting todayโs energy needs and tomorrowโs transition, it is willing to put the money in.
Indonesian independent Medco Energi (IDX:MEDC) operator of South Natuna Sea Block B offshore Indonesia, has started shooting 270 square km of 3D seismic at the Kaci field starting on 29 September, according to upstream regulator SKK Migas.
A consortium of PGS, TGS and WesternGeco have secured funding for a 6,400 sq km multi-client 3D seismic survey starting in October in the Sarawak basin offshore Malaysia.
Eni will work with Indonesian upstream regulator SKKMigas to process and interpret seismic data owned by Indonesia using the Italian majorโs proprietary technologies and facilities.
The energy industry has a reputation for being slow to support new technologies, but one exception to this generalisation is the rise of autonomous offshore vehicles.
Blue Ocean Seismic Services (BOSS) has won ยฃ10 million of backing from a range of companies including BP Ventures, Woodside Energy and Blue Ocean Monitoring.
The Covid-19 pandemic and the current low-oil-price environment have pushed global exploration and production operators to cut costs, scrapping all but the most vital of their investment plans. The supply industry that will suffer the most as a result is seismic, as shown by a Rystad Energy analysis, with revenues estimated to fall this year by 51% in a $30 Brent scenario and by 77% if the Brent falls to $20, compared to levels seen in 2019.
Cameroonโs state-owned Sociรฉtรฉ Nationale des Hydrocarbures du Cameroun (SNH) has launched a tender for a feasibility study for a 3D seismic shoot, onshore in the Douala/Kribi-Campo Basin.