Exploration/discoveries

Maintaining Seismic-Focused Exploration During Downturn Yields Benefits

This paper demonstrates how maintaining investment in high-quality 3D seismic during the last downturn, together with selective exploration, quality geoscience, application of new technologies, and efficiently maturing discoveries to early cash flow, was successful in sustaining future production.

Seismic image

A conventional industry approach is to curtail seismic activity during a downturn, focusing on limiting new exploration and drilling production wells instead. This paper demonstrates how maintaining investment in high-quality 3D seismic during the last downturn, together with selective exploration, quality geoscience, application of new technologies, and efficiently maturing discoveries to early cash flow, was successful in sustaining future production while deploying capital efficiently.

Challenge in Oman Block 6

Investment in 3D seismic does not contribute to immediate cash flow and, when funds are scarce, is an early candidate for cost reductions. By mid-2014, the seismic sector was the worst-performing segment in the upstream industry. However, without continued investment in seismic, future exploration success is threatened.

×
SPE_logo_CMYK_trans_sm.png
Restricted Content
We're sorry, but this content is reserved for SPE Members. If you are a member, please sign in at the top of the page for access. If you are not a member and you find JPT content valuable, we encourage you to become a part of the SPE member community.