Business News for the week of 22 March 2012 News section front Past news briefs Seismic crew survey reports

Mitchell Group and WellDog sign memorandum of cooperation

22 March 2012—Mitchell Group Holdings Pty of Australia and Gas Sensing Technology Corp (WellDog) of the Unites States signed a memorandum of cooperation (MoC) dated 1 March 2012.

Under the MoC Mitchell Group and WellDog have agreed to cooperate to maximize the potential of each company's respective and mutually compatible capabilities in the provision of services and equipment to the energy industry globally. The MOC is for a period of 12 months, but may be extended. Both companies will combine their strengths, market presence, and expertise to develop improved service techniques and equipment, providing clients with quality of service. Once opportunities for joint offering of services are identified, the parties will agree in formal documentation.

 

AGI announces the release of the Directory of Geoscience Departments, 47th Edition in print and as an e-Book

23 March 2012—The American Geosciences Institute (AGI) announced that the new edition The Directory of Geoscience Departments has just been published. The new 47th edition is currently available as an e-book for the Kindle, iBookstore, and Nook, and will be available in print directly from their website or through amazon.com starting April 2, 2012.

The 47th edition of the Directory of Geoscience Departments provides state and country-sorted listings of over 2300 geoscience departments, research departments, institutes, and their faculty and staff worldwide. Contact information for departments and individuals is provided, as well as details on department enrollments, faculty specialties, and the date and source of faculty and staff's highest degree.

This new edition expands the coverage of departments and organizations outside of North America, as well as comprehensive coverage of two-year institutions in North America, which have a geoscience presence on their campus.

 

Uruguay: YPF signed agreement with ANCAP for onshore oil prospecti

23 March 2012—YPF signed a contract with ANCAP for onshore oil prospect. The contract operates over an area of around 10,000 km² covering Artigas, Salto, Tacuarembo, and Rivera provinces. YPF adds activities to what Schuepbach Energy and ANCAP are planning for the named North Basin of Uruguayan territory. YPF will assume all the risks and costs generated by the operations during the phase of prospection.

During the time of the contract YPF will have the right of exclusivity for prospection activities in the area. The contract has an initial period of one year for the fulfillment of the Minimum Prospection Program that could be extended by one more year. Under this contract YPF acquires the right of priority to request one or more exploration and exploitation contract inside the area assigned for prospection activities. The Minimum Prospection Program covers: geochemical research, petrographic and petrophysical research; reprocessing of 500 km of 2D seismic lines; reinterpretation of electric profiles; and geochemical prospecting.

 

INOVA completes first sale and delivery of G3i

27 March 2012—INOVA Geophysical announced the first sale and delivery of G3i, it newly released mega-channel recording system. G3i provides flexible recording capabilities for smaller 2D to ultrahigh-channel count 3D operations, offering a single system platform that reduces the amount of field equipment required for optimal field operations. BGP has purchased this high-capacity system for immediate use for a project in Western China.

INOVA collaborates with all its customers to develop products that meet the advanced technical requirements and tough field specifications needed to produce consistent, high quality data. BGP participated throughout G3i's development and initial field testing in November 2011. Following high productivity vibroseis (HPVS) testing in February, BGP purchased the original 5000 channels used in the initial field testing and ordered an additional 10,000 in preparation for a large 3D HPVS project to begin in early April.

 

Emerson launches Roxar RMS 2012

27 March 2012—Emerson Process Management released Roxar RMS 2012, the latest version of its reservoir modeling software. The launch sees the continued expansion of Roxar RMS into the geophysics domain through a completely integrated reservoir modeling workflow, which includes seismic interpretation, reservoir simulation, reservoir behavior predictions, and uncertainty management. The key new features of RMS 2012 include seismic inversion, seismic attributes, and field planning.

 

Industry says digital oilfield will create greater value, BP poll reveals

28 March 2012—Oil and gas industry professionals are confident that the development of the digital oilfield will increase operational value through higher levels of automation and integration according to a poll conducted yesterday at the SPE Intelligent Energy International 2012 exhibition in Utrecht. 100% of participants said digital oilfield concepts would lead to greater value, while none thought they would not.

BP is posing options to consider for the next phase in the development of the digital oilfield at IE2012. The company is drawing on its experience from the ongoing development of its Field of the Future program to discuss the choices, challenges, and changes faced by the industry in progressing the application of "Intelligent Energy".

It is now 10 years since the Field of the Future program was established in BP, and the company is significantly ahead of its initial target timing for delivery. At the end of 2011, production increase resulting from the application of proprietary Field of the Future solutions was assessed as 73,000 barrels of BP net oil equivalent a day—two years ahead of the plan set internally to reach a target of 100,000 barrels a day by 2017.

 

Further agreement signed to acquire additional 
2D multiclient survey in Mauritania

28 March 2012—Dolphin Geophysical has signed a further agreement with the Government of Mauritania to acquire additional 2D multiclient survey over certain offshore areas including designated deep-water blocks. These additional data of about 9,000 km will increase the total for the NWAAM project to around 26,000 km from Northern Mauritania to Southern Guinea Conakry.

These new long-offset 2D data will form part of the ongoing NWAAM project commenced last year. Data will be processed in the UK by Dolphin's partner in the project TGS. TGS will also integrate these new lines with the regional interpretation work already in progress. Following the completion of this, further road-show seminars are being scheduled in London and Houston later this year when representatives from each government will be present to promote available acreage as well as hold private discussions with interested companies.