Seismic Imaging News

The UK Offshore Wind and Carbon Capture and Storage (CCS) Colocation Forum, set up to provide strategic coordination of colocation research and activity on the nation’s seabed, has commissioned two research projects. The projects are designed to inform the best approach to test and demonstrate the colocation of offshore wind and CCS activities in the future.To achieve the UK’s net zero targets, the UK Government is targeting the delivery of 50 gigawatts of offshore wind energy and the capture of 20-30 million tons of CO2 per year by 2030.

Emerson and Repsol announced they have established a strategic alliance to deliver advanced subsurface geophysical technologies to reduce the time to prospect and produce first oil.Emerson, a global engineering and technology company,  will work collaboratively with Spanish energy company Repsol to implement and deploy advanced subsurface imaging technologies, with core technologies developed by Repsol as part of Kaleidoscope, its 10-year innovation project."These advances will be used by a broad range of the geoscience community within Repsol and in all oil and gas companies that choose to license the technologies. The solution combines the latest in high-end visualization…

Norwegian marine geophysical services company Shearwater GeoServices Holding AS has entered into a definitive agreement to acquire the marine seismic acquisition assets and operations of Schlumberger’s geophysical services product line, WesternGeco.The transaction, which remains subject to regulatory approvals and other customary closing conditions, is expected to close in the fourth quarter of 2018.Houston based Schlumberger will receive cash consideration based on an enterprise value of $600 million plus a 15 percent post-closing equity interest in Shearwater. For a limited period, Schlumberger  will be entitled to payments under an earn-out agreement linked to future vessel usage over and above specific thresholds.

How much can change in one generation? Let’s take a look at the current generation entering your workforce born between 1980 and 2000; the Millennials. This generation grew up rarely hearing the phrase, “You can’t do that.” They have always known what a computer is, have no concept of the breakthrough of the bag phone and are just now discovering that records (vinyls) have songs on both sides. Easy access to infinite knowledge has always been at their fingertips via the internet. Their world has always held limitless possibilities because of technology.

National Ocean Industries Association (NOIA) President Randall Luthi today issued the following statement applauding a bi-partisan letter from U.S. “Under the leadership of Congressmen Jeff Duncan (R-SC) and Rob Wittman (R-VA), this letter again confirms strong support from across the mid and south Atlantic region for finally conducting a modern seismic survey of potential oil and gas resources in Atlantic waters. For over a generation, Americans have been forced to ignore these potential resources, relying upon outdated estimates using older technology.

Shell technology creates sharper pictures of underground rock formations to find new oil and gas fields more cost effectively. Shell has found a way to use tiny motion sensors – like those used in modern everyday gadgets – to create sharper pictures of underground rock formations. Geophysicists map underground rock structures by sending seismic waves – essentially sound – through the ground. Sensors record the seismic waves and computers process the recordings to create images of the rock layers. But these seismic images may not be sharp enough to pick up important details. As a result, multi-million dollar exploration wells sometimes end up as dry holes.

Shell announced a multi-billion dollar investment to develop its major Cardamom oil and gas field in the deep waters of the Gulf of Mexico (GoM). The Cardamom project is expected to produce 50,000 barrels of oil equivalent (boe) a day at peak production and more than 140 million boe over its lifetime.“Technological advances in seismic imaging and drilling have allowed us to both discover and access this new field,” said Marvin Odum, Shell Upstream Americas Director. “This is another sizeable deep-water investment by Shell that strengthens energy supplies to the USA. "Our exploration plan for Cardamom (Shell interest 100%) was the first to receive approval since the lifting of the US government moratorium on drilling in the GoM.

ION Geophysical Corporation (NYSE:IO) announced that its seismic imaging subsidiary, GX Technology (GXT), has signed an agreement with The Polarcus Group of Companies (Polarcus) for the provision of seismic data processing services. This agreement includes onboard quality control (QC), onboard processing, and land-based data processing (DP) services. The agreement calls for GXT to provide hardware, software and geophysicists in order to support a seismic project's entire imaging lifecycle, from the vessel to an onshore data processing center. Nick Bernitsas, Senior Vice President of ION's GXT Imaging Solutions division, commented, "Many…