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First Break April 2014

First Break April starts off with EAGE News, Industry News and our monthly column Crosstalk, by Andrew McBarnet. There are two Technical Articles in this month’s issue. One onThe impact of a quick 4D seismic survey and processing over the Halfdan Field, Danish North Sea and Gannet F field – Unexpected fluid flow between reservoirs identified from time-lapse seismic data.

This Month's Special Topic is on Modelling/Interpretation.

Moulding the perfect event on fault and top seals in Almería

Is fault and top analysis art or sci­ence? This is one of the questions to be explored at the Fourth International Conference on Fault and Top Seals in Almería, Spain. The event, from 27 September to 1 October, will present the latest in fault seal and top seal analysis for both research and industry applications. The objective is to highlight and discuss advances in research and technology since the last FTS conference in Montpellier in 2012.

A primary goal of the conference – convened by Graham Yielding and Dave Dewhurst – is to identify future research and development themes that will under­pin major improvements in understand­ing of fault seals and top seals. In particu­lar, the conference will address predictive methods and flow models applicable to the areas of hydrocarbon explora­tion and production, hydrogeology, CO2 sequestration and nuclear waste disposal. As with the 2nd EAGE Seals conference in 2009, the participation of the Clay Club will encourage cross-disciplinary knowledge transfer, especially in the area of shale behaviour. 

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EAGE steps up its social media presence

EAGE is certainly making its presence felt in the world of social media. It sees social media as a great oppor­tunity to interact with members in creating, sharing and/or exchanging information and ideas. Also, it enables the Association to reach even more geoscientists, engineers and others out­side its membership database. At the moment EAGE is hosting a LinkedIn page, a Facebook page and a YouTube channel. In its LinkedIn profile, EAGE has several groups, including regional groups, the annual group, students group and the special interest groups: Young Professionals and Women in Geoscience. Each group has its own main topic, but shares informa­tion to create an interactive platform in which members can communicate, share suggestions and give their opinion about matters related to the geoscience world and EAGE. 

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Crosstalk - Mad about multi-client

By Andrew McBarnet

The decision by the Norwegian Government to change the process for seismic exploration of the SE Barents Sea blocks included in the upcoming 23rd licensing round has exposed the vulnerability of the business model for conducting commercial marine seismic data acquisition. In this case the role of multi-client surveys has come under particular scrutiny. At the last count 33 oil companies had signed up to a new government-inspired initiative launched in December.

Under an unprecedented arrangement Statoil, as designated operator, was charged with commissioning 3D seismic data on behalf of all the companies involved in the prospective SE Barents Sea where 34 blocks have been nomi­nated for licensing.

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‘Group shoot’ in the Barents Sea raises fears over multi-client revenue

WesternGeco and PGS have been award­ed contracts for a ‘group shoot’ 3D seismic acquisition in the southeast­ern Barents Sea commissioned by the Norwegian Petroleum Directorate. The NPD made the announcement after nearly doubling the number of oil companies (to 33) signing up to the ‘group shoot’ to enable all of the big players to acquire seismic data ahead of the 23rd Licensing Round in what the NPD calls a ‘resource efficient manner’. The acquisition will worry multi-client specialists that have already invested heavily with a view to launching multi-client surveys in the area. 

'A coordinated project gives very low acquisition costs and ensures high-data quality by utilising the companies’ collec­tive professional expertise within geologi­cal understanding and seismic acquisition and processing,' said the NPD. 

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Prudent cost management helps Polarcus recover despite tough market

Polarcus has posted ‘respectable’ Q4 and full year 2013 profits, despite chal­lenging market conditions and lower vessel utilization, through efficiencies and cost cutting. In Q4 2014 the company recorded revenues of $123.3 million, EBITDA of $50.8 million and EBIT of $24.5 mil­lion. The company’s EBITDA margin increased to 41% from 40% in Q4 2012. Net profit of $7.4 million com­pared to a net loss of $3.3 million in Q4 2012. 

Reduced finance costs due to less debt and reduced interest rates helped the company to record an increase in net profit margin. The second tranche of the 27th UK licensing round had a positive effect on multi-client revenue, with $8 million revenue recognized in Q4 resulting directly from the round. 

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New EAGE members

Abbas, K.H. - Alexandria University - Egypt       
Abd El-Masih, M. - Alexandria University - Egypt       
Abd El-Salam, M. - Alexandria University - Egypt       
Abd Gapar, N.A. - Petronas Carigali Sdn Bhd - Malaysia       
Abi Khalil, J. - American University of Beirut - Lebanon       
Abubakar, S. - Imperial College London - United Kingdom       
Adedeji, E - University of New Orleans - United States       
Adeniji, A. - King Fahd University of Petroleum & Minerals - Saudi Arabia       
Agada, P. - University of Leoben - Austria       
Ahmad Zaini, A. - Universiti Sains Malaysia - Malaysia       
Ahmed, M. - Alexandria University - Egypt       
Al Buali, A. - Saudi Aramco - Saudi Arabia       

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