Seismic (public)

Stalled oil and gas exploration is a major economic risk

06/03/2018 Posted by Dale

The latest Australian Bureau of Statistics (ABS) exploration data confirms that the slump in petroleum exploration in Australia continues.

“Yesterday, the ABS released data for 2017, confirming that exploration in Australia is stalled. Exploration expenditure is well below trend, especially in offshore basins, said APPEA Chief Executive Dr Malcolm Roberts.

“Falling exploration activity has been evident for many years but the latest offshore expenditure numbers are alarming,” he said.

“Offshore activity has fallen to its lowest level since 2004. Other sources show that only five exploration and appraisal wells were drilled offshore in 2017.

“This situation is happening despite deep cost-cutting by the industry.

Sercel Sells a Sentinel HR High-Resolution Streamer System to German AWI Research Institute

06/03/2018 Posted by Dale

CGG announced today that Sercel has sold one of its new Sentinel HR high-resolution solid streamers to the Alfred Wegener Institute (AWI), a German research foundation specializing in polar and marine research in the Arctic and Antarctic. AWI will use the Sentinel HR on research projects it is conducting to record critical data about the relationship between geological activity and ecosystems in order to gain a better understanding of the Earth’s system. CGG said that Sentinel HR, launched in 2017, was the latest member of Sercel’s Sentinel solid streamer family. "With a close channel separation of 3.

CGG GeoConsulting and Petroleum Corporation of Jamaica Announce First Reported Discovery of Live Oil Onshore Jamaica

27/02/2018 Posted by Dale

CGG GeoConsulting and the Petroleum Corporation of Jamaica (PCJ) have announced the discovery of two independent live oil seeps from different parts of the island of Jamaica. This significant find marks the first documented occurrence of ‘live’, or flowing, oil from onshore Jamaica and will be of particular interest to oil explorationists focused on Central America and the Caribbean. The oil seeps were found during fieldwork for a recently completed multi-client Robertson Study (Red Book) of the petroleum potential of on- and offshore Jamaica entitled ‘Petroleum Geological Evaluation of Jamaica’ made jointly by CGG GeoConsulting and PCJ.

New CGG GeoSoftware Technology ‘Drives Greater E&P Efficiency’

19/02/2018 Posted by Dale

CGG GeoSoftware has announced new releases across its entire geoscience portfolio. Its complementary HampsonRussell, Jason, PowerLog, InsightEarth, VelPro, and EarthModel FT solutions are the industry’s preferred set of tools and support for multi-disciplinary teamwork at every stage from exploration and development to life-of-field production management. In a media release CGG said recent developments “bring exciting new capabilities within each individual solution while offering increasingly integrated workflows from geology and geophysics to reservoir engineering.

The Eagle has Landed – in Carnarvon’s basket

12/02/2018 Posted by Dale

Carnarvon Petroleum has been awarded the AC/P63 permit within the Southern Vulcan Sub-basin, on Western Australia’s North West Shelf, which will be known as the Eagle Project. This 585km² permit is in shallow water and contains multiple attractive leads in the same proven oil producing basin that includes the Talbot, Jabiru, and Cassini / Challis oil fields. Carnarvon said prides itself on applying leading technologies to its technical work to assist in unlocking an area’s potential.

CGG and Ardiseis complete highest-density seismic survey ever acquired

12/02/2018 Posted by Dale

CGG, its technology partner, and Ardiseis, subsidiary of the Arabian Geophysical and Surveying Company (ARGAS), the Middle East’s seismic acquisition specialist, have announced the successful completion of the world’s highest-density broadband seismic survey ever acquired onshore or offshore. The ultra-high density of the data recorded on the West-Kalabsha survey on behalf of Apache Corporation (Apache) heralds a step-change in the quality of seismic that can be economically acquired in Egypt’s Western Desert and a quantum leap in imaging for the Middle East and North Africa region, CGG said in a media release.

Katalyst Data Management Launches Well File and Well Log Scanning “Paper to Digits” Service

06/02/2018 Posted by Dale

Katalyst Data Management announced that it has launched well file and well log scanning services for the oil and gas industry. The company now has the capacity to scan volumes of well logs and associated files that are created during the life cycle of a well into an accessible PPDM database. This announcement follows Katalyst's recent completion of a successful well file scanning project involving the scanning and classification of physical well files associated with over 20,000 wells in the US Lower 48.

Prime time live-streamed Mexican acreage bids up for grabs

29/01/2018 Posted by Dale

Mexico, currently a global hotspot for exploration, will tomorrow open bids for awarding its deepwater oil and gas exploration acreage as it enters the Fourth Tender of Round 2. Tenders will be made for license contracts in 29 offshore contractual areas in the oil provinces of Perdido, Mexican Cordilleras and the Salina Basin. The Comisión Nacional de Hidrocarburos (CNH) has released a list of the nine individual companies that qualified for bidding; BHP Billiton, CNOOC, ExxonMobil, Noble Energy, Pemex, Petronas, Shell, Statoil, and Total. Seventeen consortia also taking part and in total the bidders are from 16 different countries.

PO Valley advances Saffron Energy expansion with binding deals and £14m capital raise

29/01/2018 Posted by Dale

Shareholders in Australian gas producer, Po Valley Energy have moved a step closer to benefiting from a three-way deal to become part of a larger European energy play under formal contract signings announced recently. Perth-based Po Valley said the signed binding Share Sale and Purchase Agreement with AIM-listed Saffron Energy meant Saffron would acquire onshore and offshore oil and gas production, development and exploration assets in northern Italy held by Po Valley Operations, a 100%-owned subsidiary of Po Valley Energy.

Schlumberger’s WesternGeco quits marine and land seismic acquisition business

23/01/2018 Posted by Dale

WesternGeco is exiting the marine and land seismic acquisition business, Schlumberger has announced. The company said WesternGeco had not delivered a return on expectations going forward. Schlumberger Chairman and CEO Paul Kibsgaard said: ”With the significant changes seen in customer priorities and buying habits in recent years, we have also continued to evaluate the present and future return prospects for all of our product lines, as we look to maximize all aspects of the Company’s long-term financial performance.