Can towed streamer acquisition be effective in a heavily congested area?
James Wallace, Area Geophysicist - Polarcus
The marine seismic industry is always changing and adapting. Technology is advancing, safety is improving, surveys are becoming more efficient, the carbon footprint of vessels is reducing, the number of seismic vessels is fluctuating with demand, and the areas of high seismic activity are continually moving.
Small to medium size E&P companies, as well as the nationals and majors, are embracing new innovations and utilizing lower day rates to replenish their reserves portfolio. With an ever-increasing global population, and hence demands for fossil fuels, governments are thinking about their reserves-to-production ratios and the national security and economic stability that comes with it.
A few years ago, when oil price was hovering around 100 $/BBL high latitude and deep-water discovery surveys were hot topics of conversations (in addition of course to the usual North-West Europe / West Africa seasonal cycle). With the fall in oil price came the focus on 4D surveys to maximize existing field potential and, in the face of a very tight market, the revisiting of existing datasets to improve them through fresh acquisition or reprocessing.
One region that could be historically considered as the industry’s “sweet spot” is the Middle East. From the middle of the last century, oil exploration has brought about significant social, political and economic developments. Geopolitical stability in some of the countries that make up the Arabian Peninsula has led to heavy, and fruitful, investment from international E&P companies.
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