Business News for the week of 5 May 2012

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Seismic crew survey reports

Paradigm announces update to Paradigm 2011 release

25 April 2012—Paradigm has released Paradigm 2011.1, an upgrade to the Paradigm 2011 synchronized release of exploration and development software made available last year. The upgrade provides customers with requested enhancements and introduces new solutions to advance user performance, user experience, data connectivity, and geoscience.

This update release expands Paradigm's offering on the Microsoft Windows 64-bit platform to include VoxelGeo, its voxel-volume interpretation solution, and WAM, its Web asset manager for carrying out global queries on distributed data.

Paradigm's interpretation community will be able to utilize new features in its SeisEarth display canvases, including support for prestack data along arbitrary traverses, posting of cumulative production data, and display of MWD/LWD data in the 3D Canvas. The release also introduces more flexibility in the import, storage, and creation of well plans, and adopts NVIDIA's Maximus technology to improve computation times for seismic attribute generation.

A user of Paradigm's seismic processing and imaging solutions will be able to apply its reverse time migration technology to anisotropic (TTI) models, extending Paradigm's portfolio of global and target-oriented seismic imaging capabilities. The release also introduces a new grid tomography solution that is not limited by data size constraints. Enhancements in the release support the application of Paradigm's full azimuth imaging and interpretation solution EarthStudy 360 to shale resource plays.

 

TGS commences multiclient 3D survey in Norwegian Barents Sea

30 April 2012—TGS has commenced acquisition of a 3D multiclient survey covering 2400 km²in the Norwegian Barents Sea.

The survey, Finnmark Platform 2012 (FP12), covers five blocks in the Southwestern Barents Sea of which four are located in quad 7017 and one is in quad 7018. All blocks are proposed by the Ministry of Petroleum and Energy to be included in the 22nd Licensing Round on the Norwegian Continental Shelf. Fast-track data will be available in time to perform interpretation for the 22ndLicensing Round.

The M/V Polar Duchess towing 10 x 6000 m streamer with 75 m separation is acquiring the survey.Data processing will be performed by TGS and available to clients in late 2012.

 

EMGS awarded 3D EM survey in Papua New Guinea

30 April 2012—Electromagnetic Geoservices ASA (EMGS) has been awarded a contract worth in excess of US $4 million by a new customer to acquire and process 3D electromagnetic (EM) data offshore Papua New Guinea. Data acquisition will be performed by the vessel EM Leader in the mid 2012.

 

Dolphin to charter 3D seismic vessel, Sanco Sword

Dolphin has exercised the option and signed a long term time-charter on the 3D seismic vessel Sanco Sword from Sanco Shipping AS, for an initial five-year period with options to extend. The vessel is the second purpose-built high-capacity 3D seismic vessel to be delivered from Kleven Maritime's Myklebust Yard in Norway to Sanco Shipping. She is the sister ship of Sanco Swift, also chartered by Dolphin. Sanco Sword is scheduled to be delivered from the yard in April 2014.