First Break April 2018

VO L U M E 3 6 I I S S U E 4 I A P R I L 2 018

SPECIAL TOPIC

Passive Seismic EAGE NEWS Cast your vote in Association Board elections TECHNICAL ARTICLE A new concept — fluid substitution by integrating rock physics and machine learning

TopSeis The Acquisition Solution for Imaging Shallow to Intermediate Targets Conventional

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FIRST BREAK® An EAGE Publication

CHAIRMAN EDITORIAL BOARD Trude Støren (elna@emgs.com) EDITOR Damian Arnold (editorfb@eage.org) MEMBERS, EDITORIAL BOARD • Paul Binns, consultant (pebinns@btinternet.com) • Patrick Corbett, Heriot-Watt University (patrick_corbett@pet.hw.ac.uk) • Tom Davis, Colorado School of Mines (tdavis@mines.edu) • Anthony Day, PGS (anthony.day@pgs.com) • Peter Dromgoole, Statoil UK (pdrum@statoil.com) • Rutger Gras, Oranje-Nassau Energy (gras@onebv.com) • Hamidreza Hamdi, University of Calgary (hhamdi@ucalgary.ca) • Ed Kragh, Schlumberger Cambridge Research (edkragh@slb.com) • John Reynolds, Reynolds International (jmr@reynolds-international.co.uk) • James Rickett, Schlumberger (jrickett@slb.com) • Dave Stewart, Dave Stewart Geoconsulting Ltd (djstewart.dave@gmail.com) • Femke Vossepoel, Delft University of Technology (f.c.vossepoel@tudelft.nl) MANAGER MEDIA PRODUCTION DEPARTMENT Arjan Kors (aks@eage.org) MEDIA PRODUCTION MANAGER Thomas Beentje (tbe@eage.org) ACCOUNT MANAGER ADVERTISING Charles Callaghan (ccn@eage.org) ACCOUNT MANAGER SUBSCRIPTIONS Ben Love (ble@eage.org) PRODUCTION Saskia Nota (layout@eage.org) Ivana Geurts (layout@eage.org) EAGE EUROPE OFFICE PO Box 59 3990 DB Houten The Netherlands • +31 88 995 5055 • eage@eage.org • www.eage.org EAGE RUSSIA & CIS OFFICE EAGE Russia & CIS Office EAGE Geomodel LLC Novocheremushkinskaya Str. 65 Build. 1 117418, Moscow, Russia • +7 495 640 2008 • moscow@eage.org • www.eage.ru EAGE MIDDLE EAST OFFICE EAGE Middle East FZ-LLC Dubai Knowledge Village Block 13 Office F-25 PO Box 501711 Dubai, United Arab Emirates • +971 4 369 3897 • middle_east@eage.org • www.eage.org EAGE ASIA PACIFIC OFFICE UOA Centre Office Suite 19-15-3A No. 19, Jalan Pinang 50450 Kuala Lumpur Malaysia • +60 3 272 201 40 • asiapacific@eage.org • www.eage.org EAGE LATIN AMERICA OFFICE Carrera 14 No 97-63 Piso 5 Bogotá, Colombia • +57 1 4232948 • americas@eage.org • www.eage.org EAGE MEMBERS CHANGE OF ADDRESS NOTIFICATION Send to: EAGE Membership Dept at EAGE Office (address above) FIRST BREAK ON THE WEB www.firstbreak.org

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Finite-difference modelling of microseismicity associated with a hydraulic-fracturing stimulation in a coalbed methane reservoir

Editorial Contents 3

EAGE News

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Board Interview: Everhard Muijzert

15 Crosstalk 19

Industry News

Technical Article

31 A new concept — fluid substitution by integrating rock physics and machine learning

Anders Dræge

Special Topic: Passive Seismic

41 Finite-difference modelling of microseismicity associated with a hydraulic-fracturing stimulation in a coalbed methane reservoir

Germán Rodríguez-Pradilla and David W. Eaton 49 What can we infer about a hydraulic fracture from microseismic?

Towards a microseismic interpretation framework

S.C. Maxwell 55 Real-time passive monitoring with a fibre-optic ocean bottom array

Alex Goertz and Andreas Wuestefeld 63 Real-time microseismic overburden surveillance at the Grane PRM field offshore Norway

S. Bussat, M. Houbiers and Z. Zarifi 71 Broadband, short-period or geophone nodes? Quality assessment of Passive Seismic signals acquired during the Maupasacq experiment K. Polychronopoulou, A. Lois, N. Martakis, S. Chevrot, M. Sylvander, J. Diaz, A. Villaseñor, S. Calassou, M. Collin, E. Masini, A. Bitri and L. Stehly 77 Influence of geological setting on stress released by hydraulic fracture-induced earthquakes

Gisela Viegas, Ted Urbancic and Hannah Chittenden 83 Microseismic monitoring in unconventional reservoirs: are natural fractures hiding in plain sight?

Alena Grechishnikova

Features

91 Characterization of thin bed reservoirs of Linch area, Cambay Basin using complex trace transform method to enhance temporal resolution of seismic data

Vivek Kumar Singh, Kamal and P.K. Chaudhuri 98 Calendar

cover: Sognefjord - the largest and deepest in Norway. This month we present results of a fibreoptic pilot installation to conduct real-time passive monitoring at a Norwegian fjord.

ISSN 0263-5046 (print) / ISSN 1365-2397 (online) FIRST

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Board 2017-2018 Jean-Jacques Biteau President

Near Surface Geoscience Division Oliver Kuras Chair George Apostolopoulos Vice-Chair Micki Allen Contact Officer EEGS-NA Riyadh Al-Saad O&G Liaison George Apostolopoulos Awards Committee Representative Peter Bergmann Technical Programme Representative Albert Casas Membership Officer Ranajit Ghose Editor in Chief Near Surface Geophysics Heinrich Horstmeyer Education Officer/Conference Liaison Officer Andreas Kathage Liaison Officer First Break Koya Suto Liaison Asia Pacific Endre Törös Awards Committee Representative Jiangha Xia Liaison China

Oil & Gas Geoscience Division

Juan Soldo Vice-President

Michael Poppelreiter Vice-President-Elect

Jorg Herwanger Education Officer

Caroline Lowrey Chair Michael Peter Suess Vice-Chair Øistein Bøe Resource Evaluation Committee liaison Phil Christie Chief Editor Petroleum Geoscience Rick Donselaar Technical Programme Representative (Geology) Xavier Garcia NSGD liaison Sebastian Geiger Resource Evaluation Committee liaison Olivier Gosselin Technical Programme Representative (Reservoir), Resource Evaluation Committee liaison Juliane Heiland Committee member David Halliday Technical Programme Representative (Geophysics), YP liaison Tijmen Jan Moser Editor-in-Chief Geophysical Prospecting Ann Muggeridge IOR Committee liaison Walter Rietveld Technical Programme Officer Michael Welch Technical Programme Representative (Geology), NSGD liaison Martin Widmaier Technical Programme Representative (Geophysics) Paul Worthington Resource Evaluation Committee liaison Michael Zhdanov NSGD liaison

SUBSCRIPTIONS First Break is published monthly. It is free to EAGE members. The membership fee of EAGE is € 50.00 a year (including First Break, EarthDoc (EAGE’s geoscience database), Learning Geoscience (EAGE’s Education website) and online access to a scientific journal.

Roald van Borselen Membership and Cooperation Officer

Ingrid Magnus Publications Officer

Everhard Muijzert Secretary-Treasurer

Companies can subscribe to First Break via an institutional subscription.

Every subscription includes a monthly hard copy and online access to the full First Break archive for the requested number of online users.

Orders for current subscriptions and back issues should be sent to EAGE Publications BV, Journal Subscriptions, PO Box 59, 3990 DB, Houten, The Netherlands. Tel: +31 (0)88 9955055, E-mail: subscriptions@eage.org, www.firstbreak.org.

First Break is published by EAGE Publications BV, The Netherlands.

However, responsibility for the opinions given and the statements made rests with the authors.

COPYRIGHT & PHOTOCOPYING © 2018 EAGE All rights reserved. First Break or any part thereof may not be reproduced, stored in a retrieval system, or transcribed in any form or by any means, electronically or mechanically, including photocopying and recording, ­without the prior written permission of the Publisher.

Walter Rietveld Technical Programme Officer

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Caroline Jane Lowrey Chair Oil & Gas Geoscience Division

2018

PAPER The Publisher’s policy is to use acid-free permanent paper (TCF), to the draft standard ISO/DIS/9706, made from sustainable ­forests using chlorine-free pulp (Nordic-Swan standard).

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HIGHLIGHTS

EAGE MEMBERS

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Industry future top of the agenda for Annual Executive Programme

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Our ‘hottest’ Eastern Africa forum to date!

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Ugandan EAGE Chapter students win Total Team prize

Cast your vote in the upcoming EAGE Board elections

From left to right: Peter Lloyd, Colin Macbeth, Aart-Jan van Wijngaarden, Caroline Le Turdu and Alireza Malehmir.

From 9 April 2018, the annual EAGE Board elections will take place. This is an important opportunity for members to have a say in how the Association is run, so make sure you participate in the upcoming ballot.

The Board is responsible for developing appropriate policies to achieve the objectives of EAGE in the interests of its members. This year you can vote for candidates in five vacant positions of Vice-President-Elect, Education Officer, Technical Programme Officer, Membership and Cooperation Officer, and Vice-Chair NSGD, to be filled from June 2018.

The names of each candidate and the position they are standing for are listed below and the biographies of each candidate will be published on the EAGE website. This year, a short video from each candidate has also been provided

and will be available online, providing some background on their reasons for standing. A personal invitation with login credentials will be sent by email to all members to enable them to vote.

The 2018 ballot is open from 9 April to 7 May, 2018.

Vice-President-Elect Current EAGE President Jean-Jacques Biteau will stand down at the end of his term. Juan Soldo automatically succeeds him and Vice-President-Elect Michael Poppelreiter becomes Vice-President.

For the position of Vice-President Elect, the candidate the Board proposes is Peter Lloyd, who enjoyed a 40-year international career with BP, Deminex, and Schlumberger where he worked in a series of technical, marketing and business management positions in exploraFIRST

tion and production, as well as research and engineering.

Education Officer Jörg Herwanger, Education Officer, will be at the end of his first term of two years and will be standing down.

The Board proposes Colin Macbeth for the position of Education Officer.

Colin is a professor of reservoir geophysics at the Institute of Petroleum Engineering, Heriot-Watt University.

Technical Programme Officer Walter Rietveld, Technical Programme Officer, will be at the end of his third term of two years and will be standing down.

The Board proposes Aart-Jan van Wijngaarden, manager, exploration technology at Statoil, for the vacant position of Technical Programme Officer.

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EAGE NEWS

Membership and Registration Officer Roald van Borselen, Membership and Co-operation Officer, will be at the end of his third term of two years and will be standing down.

The Board proposes Caroline Le Turdu, marketing manager for subsurface at Schlumberger, for the vacant

position of Membership and Registration Officer.

Vice-Chair Near Surface Geoscience Division Oliver Kuras, chair, Near Surface Geoscience Division, will be at the end of his term of two years and will be succeeded by George Apostolopoulos

who is currently the vice-chair of the division.

The Board proposes Alireza Malehmir, professor of applied geophysics at Uppsala University, for the vacant position of Vice-Chair Near Surface Geoscience Division.

Visit www.eage.org to find out more about the ballot.

Abstract submissions for EAGE Copenhagen reach a new high Abstract submissions once again hit record levels for this year’s 80th EAGE Annual Conference and Exhibition 2018 in Copenhagen on 11-14 June giving the Technical Programme selection meeting something of a headache. The quality of papers was said to have been of exceptional quality forcing the reviewers to make some tough decisions.

The priority has been to create a programme that best reflects the multi-disciplinary approach to geoscience and engineering that is the hallmark of the EAGE Technical Programme. The best papers from the geosciences, focused mainly on oil and gas and near surface, will again be complemented by papers from the SPE. Every day there will be 16 parallel oral sessions, nine e-posters sessions as well as two student e-poster presentations. It adds up to delegates having an impressive 400 hours of talks, discussions and presentations to choose from. The entire programme can be viewed online at www.eageannual2018.org.

Paris 2017 Poster Session.

In addition to the Technical Programme, EAGE Annual also provides a world-class exhibition allowing visitors to explore the latest technology, innovations and services on offer from more than 350 of the most important companies in geoscience, engineering and energy production, from start-ups to the big names in the business. It is an opportunity to meet the people behind the organizations, make new contacts and generally network among peers in the industry.

A major feature of EAGE’s flagship annual event are the short courses and workshops at the beginning and end of the week designed to provide participants with new knowledge and learning opportunities from leaders in various disciplines. This year nine short courses and six workshops are being presented covering some of the key topics in the geosciences today. To view all the details, visit www.eageannual2018.org. This is also where you can register online up to 15 May, so no time to delay.

EAGE congratulates SPG India on its Silver Jubilee EAGE has sent its congratulations to the Society of Petroleum Geophysicists (SPG) India, which this year is celebrating its Silver Jubilee 25th anniversary.

SPG has been a longtime Associated Society of EAGE and has a commendable record of promoting geo-

sciences across the Indian oil and gas community. At the SPG’s 12th Biennial International Conference & Exhibition last November in Jaipur, EAGE executive director Marcel van Loon was invited to give a presentation to the meeting.

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SPG India publishes a half-yearly journal Geohorizons and in recognition of its co-operation with SPG, EAGE is publishing an award-winning article by Vivek Singh in this issue of First Break (see the feature on page 91).

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Visit our website to find out how we can tailor your data rejuvenation.

A Clearer Image | www.pgs.com/rejuvenation

EAGE NEWS

Industry future top of the agenda for EAGE Annual Executive Programme As part of the executive programme for the EAGE Annual in June in Copenhagen, EAGE is once again inviting top representatives from the oil and gas industry to discuss some of the big issues of the day.

On Tuesday, industry experts will join in the EAGE Executive Forum to discuss one of the most important trends impacting the industry. Forum members Michael Borrell (Total), Darryl Harris (Woodside),

The 2017 Forum in progress.

The Opening Session on Monday 11 June will include a debate between Arnaud Breuillac (Total) and Paul McConnell (Wood Mackenzie), and moderated by Martin Breum (Journalist) on the intriguing topic of ‘The Role of Oil and Gas in the Energy Transition Era’.

Erik Finstrom (Statoil), Ahmed Hashmi (BP) and Francisco Ortigosa (Repsol) will be led by Pierre Lanfranchi (Total) and Massimo Virgillio (Schlumberger) on a discussion the endless potential of the ‘Digitalization of the E&P Industry: Status and Roadmap to the Future’.

The first of two special Executive Sessions will be on Wednesday. A line-up of Bo Cerup Simonsen (DTU), Volker Dirks (PGS) and Martin Breum will drive a conversation with Rune Olav Pedersen (PGS), Marc Gerrits (Shell), Howard Leach (BP), Kevin McLachlan (Total), Tim Dodson (Statoil) and Luca Bertelli (Eni) will consider the ‘Integration of Disciplines of a More Efficient E&P Industry’.

On Thursday our attention will be turned to Europe, with Isabelle Billat (Total) and Jez Averty (Statoil) hosting Nick Richardson (the British Oil and Gas Authority), Tristan Aspray (ExxonMobil), Gro Haatvedt (AkerBP), Milly Tornaghi (Edison), Manfred Boeckmann (DEA Erdoel) and Martin Rune Pedersen (Total) in a discussion on ‘Focus on Europe: Exploration Plays, Opportunities, and Challenges’.

The world-class Executive Programme is just one of the attractions at the 2018 Annual in Copenhagen. To make the most of this great industry occasion, be sure to register online at www.eageannual2018.org.

EAGE Education Calendar 5 APR

DLP WEBINAR BY ANTONY PRICE

ONLINE

9 APR

SAINT PETERSBURG CONFERENCE & EXHIBITION: MULTIPLE SHORT COURSES

SAINT PETERSBURG. RUSSIA

EAGE-HAGI CONFERENCE: MULTIPLE SHORT COURSES

YOGYAKARTA, INDONESIA

18 APR

DLP WEBINAR BY PETER HAFFINGER

ONLINE

23 APR

ENGINEERING & MINING GEOPHYSICS CONFERENCE & EXHIBITION: MULTIPLE SHORT COURSES

ALMATY, KAZAKHSTAN

9-13 APR

SHORT COURSE ON BOREHOLE SEISMIC

KUALA LUMPUR, MALAYSIA

SHORT COURSE ON SEISMIC ACQUISITION PROJECT ESSENTIALS

BEIJING, CHINA

14-18 MAY

EDUCATION DAYS BUENOS AIRES MULTIPLE SHORT COURSES

BUENOS AIRES, ARGENTINA

10-15 JUN

EAGE ANNUAL CONFERENCE: MULTIPLE SHORT COURSES

COPENHAGEN, DENMARK

12-27 JUL

EDUCATION DAYS BEIJING: MULTIPLE SHORT COURSES

BEIJING, CHINA

5-18 JUL

EDUCATION DAYS PERTH: MULTIPLE SHORT COURSES

PERTH, AUSTRALIA

9-16 JUL

EDUCATION DAYS KUALA LUMPUR: MULTIPLE SHORT COURSES

KUALA LUMPUR, MALAYSIA

27-31 AUG

EDUCATION DAYS RIO DE JANEIRO: MULTIPLE SHORT COURSES

RIO DE JANEIRO, BRAZIL

28-31 AUG

EDUCATION DAYS ABERDEEN: MULTIPLE SHORT COURSES

ABERDEEN, UK

EDUCATION DAYS MEXICO CITY: MULTIPLE SHORT COURSES

MEXICO CITY, MEXICO

9-10 MAY 10-11 MAY

3-7 SEP

FOR MORE INFORMATION AND REGISTRATION PLEASE VISIT WWW.LEARNINGGEOSCIENCE.ORG.

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Move2018 out now!

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• A new 3D surface construction tool.

• Stochastic modelling in Fault Analysis • Monte Carlo Fracture Response in Fault Response Modelling.

• A new Attribute Query tool and 3D Seismic export capability.

• Map View control of 3D data.

Visit mve.com/move-latest for more information

HOUSTON USER MEETING - 29 May 2018 Come along to see all the new tools and functionality.

To find out more and to register, visit mve.com/user-meeting

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EAGE NEWS

Our ‘hottest’ Eastern Africa forum to date!

Chantale Siversen (Statoil), Charles Line (ExxonMobil) and Malcolm Francis (Schlumberger) report on the 3rd Eastern Africa Petroleum Geoscience Forum held on 6-9 November 2017 in Maputo, Mozambique.

No, we’re not talking about the weather that embraced us at Maputo for our third forum, which was themed ‘Managing Subsurface Risk in Finding and Developing Hydrocarbons’, but rather the excitement generated by the meeting.

EAGE President Jean Jacques Biteau welcomed us to the forum, describing Africa as a new focus for the Association.

Representing the close ties between EAGE and Mozambique, Pascalle Grotenhuis, ambassador for the Netherlands, also added to the official opening address and shared a few words of welcome. The aim of the conference was to share knowledge, identify appropriate technologies to fill gaps and reduce uncertainties.

learn from the past and where we need innovation, also recognizing industry, academia and government collaboration as important for the continuing journey of East African exploration.

An important aspect of the Forum was the high attendance of students. Prior to the forum, Dr Sander Houben and Dr Renaud Bouroullec (TNO Energy) taught a short course on integrated stratigraphic approaches, sponsored by the Dutch government via TNO. Students and attendees, both local and visiting, got to know each other prior to the start of the forum. Attendance of many of the students was made possible thanks to Platinum sponsors ExxonMobil and Total. Students were included both in

Delegates from the 3rd EAGE Eastern Africa Petroleum Geoscience Forum.

Mohammed Zine (IHS Markit) provided an East African exploration overview explaining that significant oil discoveries onshore in Uganda and Kenya and worldclass gas discoveries offshore in Tanzania and Mozambique have propelled East Africa from minor league to top of the world in hydrocarbon discoveries within two years.

The forum provided a masterclass in exploration for this newly emerging province, looking at tectonics, sediments and hydrocarbon systems. We studied source to sink analogues, taking regional knowledge and applying it to understand reservoir properties. We discussed what we could

the programme and in a dedicated poster session. Posters provided an opportunity for many one-on-one discussions.

A main highlight of the forum was a visit to the new INP cores facility in Zimpeto. We viewed core from some recently drilled key wells thanks to presentations from Sasol, ENI and Anadarko. With some of the latest seismic data we learnt about the interaction of deep ocean-bottom currents, with deep water sedimentary systems, giving rise to a new understanding of contourites and their interplay with reservoir rock and seal distribution. Several of the forum presenters picked up on this underlying

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thread with observations in the near surface as well as in subsurface reservoirs. At lunch time INP treated us to a veritable feast of local savouries and fruit. Quite the best food to be had in the field!

A summary of the main oral sessions follows but further information can be found in the corresponding abstracts on EarthDoc http://earthdoc.eage.org.

We opened the forum with an enriching keynote presentation titled, ‘Exploration in a Low Price Environment’ from Dave Wilkin (ExxonMobil), who gave us insight into the company’s exploration strategy and technical innovation throughout the business cycle. This was followed by a good example of capacity building with a team from INP and Schlumberger looking at exploration potential of the Angoche Basin, with interpretation of fast-track broadband seismic data from a recently acquired 15,000 km2 3D dataset. In the subsequent talks, the East African offshore margin was presented as consisting of several genetic tectono-stratigraphic domains reflecting important spatial and temporal margin trends. Seismic data in the outboard area of the Rovuma margin indicates half-grabens beyond the Davie Transform with apparent growth wedges, interpreted by the author as faulted oceanic crust with interbedded igneous and clastic material. Observations on source rock presence and hydrocarbon occurrences from the Somalia margin and the Madagascar conjugate support the presence of an oil system. The extensive seismic data base available provides the opportunity for direct observations on source rock deposition and distribution. The oblique nature of Jurassic rifting explains differences in crustal architecture across the basins and the presence of isolated salt basins.

A big underlying question in the regional hydrocarbons systems session was whether an offshore oil play in East Africa existed. The session explored methodologies for managing subsurface risk, and addressed the importance of

EAGE NEWS

understanding crustal/basement type and tectonic history, as well as the role of magmatism in early rifting history.

The methodologies reviewed included the innovative clumped isotope analysis combined with fluid inclusion volatile analysis, basin modelling with varying crustal type, crustal type definition integrating high resolution broadband seismic interpretation with gravity models, high resolution multibeam seismic and piston cores and onshore seep data analysis.

Key learnings included the importance of understanding thermal history; in this instance a late heat-flow pulse from a mantle plume under the Rovuma Basin may provide a late gas charge. Onshore seep data confirmed Jurassic and Permo-Triassic source rocks in Mozambique and Madagascar and confirm the presence of oil-prone petroleum. In the frontier Durban Basin, indications of continental crust may open new exploration opportunities, with further work to do on potential source rock thermal maturity modelling. Finally, regional conjugate margin observations in reconstructed space enhance our understanding of the hydrocarbon system.

In the session ‘Regional Sedimentary Systems’, the impact of ocean bottom currents on deep-water mass flow deposits was again discussed. A key talking point was the recognition of the emergence of contourites as a potential hydrocarbon play; nonetheless, questions remain on the economic viability of these deposits.

The ‘Source to Sink’ session was introduced by a very interesting keynote presentation from Jean-Loup Rubino (Total) on the Permo-Triassic Karoo rift and sag basins in East Africa. He presented a regional synthesis integrating literature and field work at various scales. This traditional definition of the ‘Karoo system’ appears, at times, too general with too many different stratigraphic units which cannot be included in the same geological package; in other words, sub-division is generally needed.

This was to become another underlying theme of the forum.

In frontier areas, a multi-disciplinary approach aids the understanding of sourceto-sink relationships, requiring an integration of fieldwork data with other sources of information. Regional concepts are required to predict reservoir development in the context of both global and local controls.

The subsequent presentations highlighted the benefit of integrating university work into hydrocarbon exploration studies and showed us the importance of understanding the uplift of the African interior through time for predicting offshore sediments. The topography of Austral and Eastern Africa including Madagascar, is characterized by very long wavelength plateaus and domes related to mantle dynamics. Uplifts occurred (1) during Late Cretaceous times (90 Ma and 70 Ma) with the growth of the South African Plateau, and (2) around the Oligocene – Eocene transition with the early stages of the East-African and Ethiopian domes and of the Madagascar Plateau. The reconstruction of the paleo-precipitation record suggests humid to very humid conditions required for chemical weathering from Valanginian to Early Aptian, from Coniacian to Middle Eocene, and during the Late Oligocene, Tortonian and Zanclean.

These uplifts and periods of climate changes control first order the erosion processes, topography and sediment supply to the offshore basins.

Two talks presented approaches to quantify sediment provenance and the effect of autogenic and allogenic processes in controlling sediment supply. The talks contributed to a better knowledge of the Paleogene Rovuma and the Meso-Cenozoic Mandawa Basins. The methodologies used include high-resolution paleo-environmental reconstructions based on palynomorphs, foraminifera and calcareous nannofossils, as well as heavy-mineral analyses. These multi-disciplinary approaches evaluated the connections among global climatic trends, tectonic uplift of the hinterland and eustatic cycles in controlling the sediment accumulation during the Paleogene in the Rovuma Basin, offshore Mozambique.

This constrains turbidite deposition in deep marine settings, helping prediction of reservoir facies distribution. The combination of mineralogical and heavy mineral analyses helps reconstruct the source and provenance of shallow-marine and fluvial sequences.

The ‘Learnings from the past session’ included a systematic review of released exploration wells. The reasons for failure, including charge, reservoir, trap and seal, when spatially analysed, can help identify risk elements. For example, in Zambezi area, charge is a key risk factor for the Lower Cretaceous section.

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Field development is a growing theme in East Africa. Early appraisal of the Orca gas field, offshore Mozambique, marks the transition between exploration and development with large uncertainties despite having

Getting to the core of the matter in Zimpeto.

access to a much larger quantity of data.

The appraisal stage has faced challenges in structural definition, connectivity, depositional environment definition and reservoir quality variation. The presentation illustrated the use of data strategies to address reservoir uncertainties. Another case study from onshore Mozambique showed integration of core data with wireline data to understand the pore types and controls on reservoir quality.

In the final session, ‘Innovations in Technology’, examples of leading edge technology were presented, including the use of full wavefield inversion to provide higher definition and more robust descriptions of subsurface reservoir and fluid properties, and the use of controlled source electromagnetics to reduce uncertainty and better define risk in drilling decisions.

New technology provides the opportunity for more advanced data acquisition and processing within the same timeframe, enabling us to push good data further to understand subsurface geology. Integration of high quality data adds value by enabling better decisions.

The fourth chapter of the EAGE Eastern Africa Petroleum Geoscience Forum is scheduled for 3-5 December 2018 in Nairobi, Kenya where our theme will be ‘Effective Exploration and Development of Hydrocarbons through Technology and Partnership’. Call for Abstracts is open

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EAGE NEWS

EAGE highlights series is a hit in Aberdeen Nearly 60 geoscientists and engineers from Aberdeen and other parts of Scotland attended the first ‘EAGE Highlights Series’ event on 11 January, launched by Aberdeen Local Chapter at the University of Aberdeen.

It was the first event of its kind to bring a selection of presentations from the 2017 meetings to EAGE members who did not have the opportunity to travel abroad. The event proved very popular focusing on 4D seismic which

is a very relevant topic to the Aberdeen community.

Prof Colin MacBeth from Heriot-Watt University opened the technical programme with an introduction to quantitative 4D interpretation followed by a selection of presentations from the 2017 conferences and workshops. The meeting concluded with lively discussions in a local pub afterwards.

The Aberdeen Local Chapter continues to go from strength-to-strength.

They have an exciting schedule of events planned for this year, including evening lectures and joint events which will again see the involvement of PESGB as partner organization.

Following the success of Seismic2017, they have been working with SPE to bring the Seismic2018 conference again to Aberdeen in May. This has been extended to two days and will feature a social evening organized by the Local Chapter (see Calendar of Events).

Caspian geology is focus for Azerbaijan conference

EAGE Local Chapter Azerbaijan was involved in last November’s international conference on ‘The Caspian Region: Peculiarities of the Geology’, held in co-operation with the Azerbaijan Society of Petroleum Geologists (ASPG) and SPE. The conference brought together representatives from several oil and gas industries, including BP, SOCAR, Total and KazMunaygaz, and featured sessions on: The new results of regional studies of the Caspian area based on the latest geophysical data; Sedimentary basin analysis and modelling; Reservoir properties; and Petroleum evaluation of the basins In his conference address, Dr Akif Narimanov, president of EAGE Local Chapter Azerbaijan, emphasized the fruitful cooperation between the EAGE LC Azerbaijan and ASPG. Over the period

since 2002, seven international conferences, five thematic events and 15 conferences for students and young researchers have been held, as well as field trips and thematic seminars. He said the events contributed to the professional growth of students and young researchers.

At the plenary session Dr Arzu Javadova (BP) spoke on ‘Unlocking new hydrocarbon potentials - Exploring the shallow waters of Azerbaijan’. Dr Elchin Bagirov, vice president, SOCAR VP, made a presentation on new petroleum systems in the Mesozoic section of the South Caspian Basin. Prof Nikolay Zapivalov, professor at Novosibirsk State University and member of the Russian Academy of Natural Sciences (RANS) talked on ‘Modern oil-geological conceptions: challenges of the 21st century for the Caspian Region’.

Prof Zapivalov also held a workshop dedicated to the issue of geotectonic movements of the earth’s crust, for which he was awarded with a special prize from the geological societies of Azerbaijan.

After the Plenary Session, 26 presentations were heard at four technical Sessions with speakers from BP, SOCAR head office and SOCAR”s Scientific Institute, the Institute of Geophysics and

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Award recognition for young scientist Ilaha Bunyatova.

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Geology, Oil and Gas and Geography of NAS, and Azerbaijan State of Oil and Industry University.

Ilaha Bunyatova (BP) was awarded best presentation among young scientists and specialists for her topic of ‘Geophysics at the frontline to get development right: Example of West Chirag’.

On the fourth day of the conference, under the leadership of Drs Elchin Bagirov and Elshan Abdullayev, there was a field trip to the Kirmaku valley.

ASPG expresses its gratitude to the sponsors of the conference – SOCAR, BP, Schlumberger, TOTAL and Statoil.

Selected reports from the conference will be fully published in the Azerbaijan Geologist journal.

Opening session in progress.

EAGE NEWS

London Chapter follows in the wake of rock legends Last November the EAGE London Chapter headed for a cave where such rock stars as David Bowie, Status Quo, Jimi Hendrix, the Rolling Stones and Pink Floyd have performed, but not the Cavern in Liverpool. This was a fun field trip for a select group of adults and children to explore abandoned mine workings in the chalk at Chislehurst on the outskirts of London.

As field trips in the autumn go, this one could not be spoilt by the weather as much of the time was spent underground. The tour is atmospheric with paraffin lanterns to light the path. The visit was further illuminated by guide Rod LeGear, a vice president of the Kent Archaeology Society where he has been a member since 1963.

The chalk mine used a pillar and stall method with high ceilings so the miners cut benches to stand on to advance the face.

You can get up close to the chalk without the risk of standing at the base of a sea

cliff or quarry face. The chalk is of upper Cretaceous age made up of microscopic fossils called coccoliths, a lot of small things can combine to make something big like the white cliffs of Dover. Within the chalk, participants could observe high-quality flint nodules once used to make flintlock muskets. The chalk was burnt in a kiln to yield quicklime (Calcium oxide) used in fertilizer, mortar and plaster.

In addition, it was used in the manufacture of yellow stock bricks, that require about 11% chalk. The dome of an underground chapel exposes the unconformity between the eroded top chalk and overlying finegrained shallow marine Thanet sands of late Palaeocene age 59-56 Ma. Thanks are due to the London chapter of EAGE and Yulia Biryaltseva for arranging the trip.

Visit to Chislehurst chalk mine.

President of China Local Chapter invited to speak at Harvard and MIT Prof Lizhi Xiao, president of the EAGE Local Chapter China, was at the Pierce Hall, Harvard University on 15 November last year to give a talk entitled ‘From single spin NMR to deep ocean MRI— Applications of quantum manipulation and quantum entanglement’. He was there at the invitation of Prof David A. Weitz, Mallinckrodt Professor of Physics and Applied Physics.

Nuclear Magnetic Resonance (NMR) has been widely applied to many different fields and is still actively stimulating new science and technology. Single-spin NMR and deep-ocean MRI are two recent examples. Beyond this, applying quantum manipulation and quantum entanglement, Prof Xiao introduced a newly developed

downhole MRI instruments for in situ analytical applications to oil and gas exploration in deep-water harsh environments, a possible game-changer with quantum communication for deep-ocean logging while drilling (LWD) massive data transmission. Prof Xiao shared with the audience research progress in his group LWD NMR, downhole NMR fluid analyser, and downhole NMR for shale gas evaluation.

Prof Xiao had already been invited in early 2017 by both Massachusetts Institute of Technology (MIT) and Schlumberger-Doll Research (SDR) at Cambridge to deliver talks on ‘Multi-dimensional NMR to formation evaluation’ and ‘SMRT: a three-dimensional NMR imaging tool for oil and gas exploration’ respectively.

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Dr Bob Kleinberg, scientific advisor of Schlumberger-Doll Research and fellow of the American Physical Society, made commentary on the talk at MIT noting Prof Xiao and his team are in a leading position and have done an excellent job in developing downhole NMR technology and applications.

Professor Xiao is a well-known NMR expert and co-author of the much cited book on NMR Logging Principles and Applications.

EAGE China Local Chapter encourages members to participate in both academic and industry activities and will continue to play a critical role in promoting exchange and cooperation between institutions and first class universities worldwide.

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EAGE NEWS

Least squares migration on the agenda for Rio workshop EAGE and Sociedade Brasileira de Geofisica (SBGf) are partnering to hold a first International Workshop on Least Squares Migration in Rio de Janeiro from 27-29 November 2018.

One of the hottest topics in exploration geophysics today, least squares migration (LSM) has attracted keen

advances in LSM show that, in some cases, it costs no more than an extra pair of migration operations.

The workshop should be a great opportunity for geoscientists from around the world to review the fundamentals behind LSM, and learn about its advancements, applications to field data,

Classic view of Rio.

attention in recent years for its ability to improve the quality of images compared with traditional migration methods such as Kirchhoff migration and RTM. New

future possibilities, and current limitations. Keynote speakers will include Felix Herrmann from Georgia Tech University and Bing Wang from TGS.

The organizing committee is accepting abstracts by May 1 on the main themes of: Iterative LSM; Migration deconvolution; Applications of LSM to different physics; Case histories; and The road ahead.

Further information about submission of papers and the conference are at: http://link.eage.org/m/d70adfd7baad4ebdacaf821c58757d42/AAE79F3B/73AC37FC/112017n.

The conference will include a halfday tour of Rio and the surrounding region conducted by a leading tour operator. Together with sunny beaches and postcard scenery, Rio de Janeiro is also known for its thriving oil and gas activities. The recent bidding rounds for offshore blocks in Brazil have attracted 17 companies, including most of the largest players in the industry, some of which will be operating exploration licences involving post- and pre-salt areas offshore Brazil.

Promotional opportunities at this event are available to suit all goals and budgets, for more information please contact us at dlz@eage.org.

For all details about the event you can visit www.eage.org/events/calendar of events/workshops/ first EAGE/ SBGf Worskhop on Least Squares Migration.

EAGE Student Calendar 5-8 APR

GEOSFERA 2018

KICZYCE, POLAND

SAINT PETERSBURG 2018: GEOQUIZ/STUDENT PROGRAMME

SAINT PETERBURG, RUSSIA

11-12 APR

EAGE/HAGI 1ST ASIA PACIFIC MEETING ON NEAR SURFACE GEOSCIENCE & ENGINEERING (REGIONAL GEO-QUIZ)

YOGYAKARTA, INDONESIA

23-27 APR

ENGINEERING & MINING GEOPHYSICS 2018: GEOQUIZ

ALMATY, KAZAKHSTAN

9-12 APR

10 JUN

LAURIE DAKE CHALLENGE FINAL

COPENHAGEN, DENMARK

11 JUN

LAURIE DAKE ANNOUNCEMENT

COPENHAGEN, DENMARK

EAGE ANNUAL 2018: STUDENT PROGRAMME

COPENHAGEN, DENMARK

13 JUN

GEO-QUIZ

COPENHAGEN, DENMARK

3-8 JUL

ACEG, SEMANA TECNICA DE GEOCIENCIAS DE LA ASOCIACIÓN COLOMBIANA DE ESTUDIANTES DE GEOLOGÍA

MANIZALES, COLOMBIA

11-14 JUN

FOR MORE INFORMATION AND REGISTRATION PLEASE CHECK THE STUDENT SECTION AT WWW.EAGE.ORG

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EAGE NEWS

Ugandan EAGE Chapter students win Total Team prize

The six EAGE Makerere Geosciences students of team MakGeo2018. From right to left: Mubiru James, Katusiime Justine, Ampumuza Davis, Asiimwe Suzan, Guma Frank and Sempebwa Greaven.

A team of six petroleum geosciences students from EAGE’s Student Chapter at Makerere University, Uganda emerged as one of two African winners in the worldwide Team Total Campus Challenge.

A total of 18 winning teams were selected worldwide from over 180 teams (comprising of 1331 students from 38 countries) that participated. The Makerere team, competing as MAKGEO2018, participated in the Discover category and will be awarded €4000 to conduct a research study in the oil-rich Ugandan Albertine graben.

Their ‘Field Excursion’ research study will be conducted mid-2018. It will be focused on exposing the students to the fast developing oil and gas industry activities in Uganda. They will be able to assess the environmental concerns, health safety aspects and measures put in place

by the oil companies and government to protect both the people and the environmentally sensitive areas of the graben.

Furthermore, they will put their geosciences skills to the test by studying the lithological and structural aspects in that area.

Commenting on the whole experience, team leader Mubiru James Elvis said: ‘Working on this project was one of my best experiences ever. Indeed, I have learned a lot from the cooperation, commitment and sacrifice we had to put in, and I also found it very exciting given this completely new experience. There are lots of opportunities for students and we want to inspire more students to take advantage of them. I want to thank Team Total for the opportunity, the Department of Geology and Petroleum studies as well as EAGE for its invaluable assistance.’

Team Total is an annual grants programme that supports projects, challenges and educational activities organized by student associations around the world. It helps students with their studies, extra-curricular fun and humanitarian projects. These grants with a total of €80,000 funding for the selected projects are in four main categories; ‘Push your limits’ - funding to take place in a sporting competition or adventure event; ‘Innovate’ - support for student organizations with a passion for innovation and sustainable energy; ‘Make it better’ - funding for projects which aim to improve living standards in a community; and ‘Discover’ - support for geosciences and petroleum engineering student associations to complete study trips, participate in international conferences or professional development activities.

EAGE’s Student Chapter at Makerere University.

The EAGE Student Fund supports activities that help bridge the gap between the university and professional environments for students of geosciences and engineering. Thanks to our Student Fund contributors we can continue supporting students around the globe and through this securing the future of our industry. For more information to become a Student Fund contributor, please visit eagestudentfund.org or contact us at students@eage.org.

SUPPORTED BY

SUPPORTED BY

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BOARD INTERVIEW

Board Interview WHAT’S INVOLVED IN OVERSEEING THE ASSOCIATION’S FINANCES EAGE SECRETARY-TREASURER I EVERHARD MUIJZERT I SCIENTIFIC ADVISOR SCHLUMBERGER

Everhard Muijzert is in his third year as EAGE Secretary-Treasurer at a challenging time for sustaining the Association’s many activities and plans for growth. We asked him about his role on the Board.

Everhard Muijzert has spent most of his professional career dedicated to research at Schlumberger Cambridge Research in the UK, where he is now scientific adviser. His accomplishments include development work on WesternGeco’s innovative seismic acquisition systems (Q-Marine, Q-Seabed, IsoMetrix and UniQ) and associated processing methods, and he has worked on various sensor technologies. A recipient of the Eötvös Award for best paper in Geophysical Prospecting, he is author/co-author of numerous publications and also has a number of patents to his name. Muijzert has a PhD in geophysics from the Utrecht University.

As per the Constitution, Secretary-Treasurer seems like a full-time job, but it does allow for duties to be delegated to the full-time staff. How does that work out in practice?

The Finance Director and his team conduct all day-to-day financial operations and prepare the bigger items for myself and the Board. An important aspect is that all our operations are conducted by EAGE Holding. This is a separate company fully owned by the Association. This ownership structure greatly simplifies my role. While I am nominally responsible for the Association’s finances my role is to provide financial oversight of the operations. This means that I am not involved with topics like VAT returns, venue contracts and staff salaries, except those of the Directors through the Compensation Committee. I do receive regular budget updates which we discuss in the Finance Committee and the Board. All our finances are checked by an independent auditor appointed by the Board.

As a professional geoscientist, how easy is it to come to grips with the finances of an organization and budget the size of EAGE? The Treasurer role obviously requires some interest in finance, but it is not about checking the books and paying invoices. The Treasurer role is actually about the bigger picture or oversight. Are our finances sustainable? What to do with profits and losses? Are the correct procedures in place? I also receive auditor, investment, legal and tax advice. Working for a large multi-national company has given me some relevant experience. I have also picked up some useful skills, such as being able to read a balance sheet, and have developed

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some patience with reading legal documents through working with patent lawyers in my day job.

Generally speaking, is EAGE is good financial shape?

The recession in the E&P industry has had a big impact of course.

This year we have approved a neutral budget for all operations.

The Association has healthy reserves, built up during the good years, and we are using some of these reserves to continue running a large number of membership programmes. Last year we have grouped these membership programmes in the new Education, Support and Cooperation Funds, that together with the Student Fund return well over a million Euro’s a year back to membership. Each fund has a fund manager and we have established budget approval procedures.

Members do have a lot of influence on the direction we are going. In addition to the committee work and the day-to-day interactions that the Board has with members, there are other opportunities where members provide input to our plans. We have changed the format of the Annual General Meeting, and the member surveys and questionnaires are providing lots of insights into what is important to our membership. I would like to encourage all members to keep on returning those surveys, because we do read and act on them. All this information is used to develop the strategic plan and to fill the calendar for the next few years.

Members also make less obvious day-to-day decisions, typically about content, and are carried out by our editors, chairs and reviewers, and it should stay that way.

How much has EAGE had to adjust to accommodate potential loss of revenue resulting from the downturn in E&P geoscience-related activity worldwide?

Our operational revenue has dropped substantially, by around 30% between 2014 and 2017. Many E&P companies have experienced a similar decline. The Association’s income from operations changed from around +€1 million in 2014 to -€1 million in 2016 and we are working with a neutral budget for 2018.

As a priority, there is a lot of focus on cost in the organization.

Are there any new revenue streams that EAGE can develop?

We are executing a plan through our four regional offices for international expansion by strengthening our regional workshops and conferences. EAGE is also strengthening its multi-disciplinary nature by including more geology and geothermal events in the programme. This will provide opportunities for cross-discipline knowledge-sharing for members. Following the recommendation of Chris Ward, president 2016-17, EAGE has expanded its corporate relations team and this move looks to be paying off. Our EU activities are also starting to generate revenue. So there are additional revenue streams being developed that we expect to bring value to our members.

Members sometimes complain that EAGE has become too much like a business with corporate goals rather than focusing on the interests of the members. What do you say to that?

EAGE is a members’ organization and the Board sets the annual goals of the organization. Execution of the plans, in particular the operations, are the responsibility of the full-time managerial staff. They conduct detailed financial planning for all activities and if they cannot find a way to make something break-even for the service level expected by the members, the activity does not go ahead. This may indeed sound corporate, but given our size and structure we have to run the organization professionally on behalf of the members.

From your perspective on the Board, are there any changes you would like to see in the running of EAGE’s financial affairs?

I have already had the opportunity for two and a half years to change things. I would like to highlight two issues. First, returning the organization to a neutral or better budget is important as we have had losses over the last few years. So that is a focus area.

Second, the Annual Conference generates a significant part of the revenue of the organization. It would be great to further grow some of other activities so we can become less dependent on the outcome of a single event.

How much feedback/interest re EAGE’s financial status do you get from the membership?

I only receive a few queries, apart from the occasional comment on the price of a registration fee. Only past Board members tend to ask me about the Association finances. I would welcome more input from members with financial or managerial experience and an interest the wellbeing of EAGE.

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Power politics in the Med Byzantine seems a not entirely inappropriate description of the It is a comment on the risk aversion of international oil geo-political rivalries and uncertainties that have been stirred companies that it was Noble Energy, a relatively modest Houby the prospect of an East Mediterranean gas hub, inspired by ston-based independent, that has been the prime mover in significant finds offshore Israel, Cyprus and Egypt in the Levant changing the prospects and perception of hydrocarbons in the Basin. Still the most quoted estimate of potential reserves in the Eastern Mediterranean. Its focus is mainly US-based operations basin is the 2010 figure of 122 trillion cubic feet of recoverable including shale. But, the company’s sparse international portfolio gas and 1.7 billion barrels of recoverable oil suggested by the also includes acreage in the Falklands, so it is clearly willing to US Geological Survey. That figure probably needs to be revised dare to succeed. upwards.

British Gas was also an early explorer offshore Israel and Littoral states such as Greece, Turkey, Lebanon, Syria, reportedly identified the later finds of the Tamar and Dalit Israel, Cyprus and Egypt have the most obvious commercial reserves. However the company dropped out when unable to interest in sharing in the growing bonanza, either through negotiate a satisfactory deal for its gas production with the Israel direct offshore exploration and production or transportation/ Electric Company, which at the time in 2004 was favouring a processing possibilities. Jordan is also in the cheaper option of importing gas from Egypt. mix as a consumer, while even Saudi Arabia Meanwhile, Spectrum, TGS and PGS can ‘Noble Energy deserves has expressed an interest in gas imports as be credited for acquiring most of the seismic it tries to veer away from over-dependence points for persistence’ data offshore Israel, Cyprus and Lebanon on oil. The trouble of course is that each leading to the current positive evaluation of of these countries, some notoriously unstable, are wracked the deep-water Levant Basin. by deep-seated internal dissent over any form of co-operation Noble Energy deserves points for persistence. Its journey with one or more near neighbours, animosities based on decoffshore Israel with local partners began in 2000 with the Mari-B ades if not centuries of international tension, not to mention field natural gas discovery offshore Ashkelon (with estimated war. reserves at the time of more than 1 tcf) subsequently linked to the That is not the end of the complexities. The potential introsmaller Noa and satellite Pinnacle fields. duction of substantial Eastern Mediterranean gas exports into the The Mari-B fields, collectively known as the Yam Tethys global energy mix threatens a power struggle between Russia and project, were the only Israeli fields to serve domestic gas needs Europe for control over the infrastructure of gas exports from the from 2004. Some 40% of gas demand was met by imports from region. Among other things, it is not too far-fetched to believe Egypt, through the el-Arish-Ashkelon pipeline. This was always a that Russia will use its influence on Syria should it, as promised, source of controversy in Egypt. In 2012 the route was abruptly cut return to offshore oil and gas activities in 2019. off after the toppling of Egyptian President Hosni Mubarak and In addition, competition to meet European gas demand will numerous attacks on the pipeline. An estimated $3 billion in comimpact existing supply lines from Algeria and Norway. Meantime pensation for the cancellation of the 20-year gas supply contract a recent Wall Street Journal article sought to heap praise on was awarded to Israeli companies in a Swiss court judgment in pre-Trump US diplomacy for enabling some of the friendly talk 2017 (although payment arrangements have still to be finalized). between Israel, Cyprus and Egypt, in other words the US has a In 2009-10 discoveries of the giant Tamar and Leviathan clear interest in regional developments. fields by Noble Energy and principal partner Delek Drilling

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Should the current scenario work out, then it will be a giant changed the whole dynamic, the expected production transforming step for Egypt in its aspiration to become the central distribution Israel into a serious gas exporter open to offers. The $3 billion hub for East Mediterranean gas. It will also be a blow to Tamar development in 1700 m water depths came on stream in Turkey, which logistically and commercially makes sense as the 2013. Along the way there were some predictable complaints destination for East Mediterranean gas. The country has pipeline from Lebanon that its maritime jurisdiction had been encroached, network access to the European market and is also anxious to a claim that was later withdrawn. In the first half of 2017 Tamar reduce is domestic dependence on Russian gas supplies. However produced about 4.9 bcm of gas providing most of Israel’s power the current Turkish government has been complicating its case by generation plus some exports to neighbouring Jordan. escalating tension with Israel.

The altogether larger, but much delayed Leviathan field in 1645 Another pipeline option, which Israel and other East Mediterm water depths is finally due into production by year end 2019. ranean countries agreed last December, was to build an undersea Financing of the $3.75 billion first phase has been approved adding pipeline from Cyprus to Greece to Italy. This would seem to the $1 billion already spent. Four wells are due to produce about problematic in terms of the engineering and construction cost of 12 bcm of gas a year. For some observers, the development go laying a pipeline across deep water and skirting the disputed EEZ ahead contained substantial risk as the level of production exceedissues between Greece, Turkey and a divided Cyprus. ed Israel’s domestic requirements and was therefore dependent on a There was more good news recently for Egyptian aspirations gas export plan that was not in plain sight. Approving the project a from a report that Shell is in talks to buy 10 bcm of gas bound year ago Prime Minister Benjamin Netanyahu said the move ‘would for LNG production in Egypt from the Leviathan and Aphrodite provide gas to Israel and promote co-operation with countries in the reservoirs in a $25 billion ten-year agreement. region’.

Looking ahead, the Eastern Mediterranean gas picture still But negotiating gas deals in 2017 did not look a slam dunk. looks murky. The contrast in the outcome of licensing rounds in Worldwide gas prices were depressed partly by the entry of Israel, Lebanon and Cyprus underline the franew supplies into the market, notably from Australia. Closer to home, two major gas ‘A giant step for Egypt gility of the current commercial undertakings.

Israel’s second licensing round which discoveries had changed Israel’s bargaining … a blow to Turkey’ was concluded in December awarded five power in the region. In Egypt, Eni announced exploration concessions – 12, 21, 22, 23 and in 2015 the discovery of the massive Zohr 31 – to Energean, the Greek company that operates the small field with estimated reserves of 850 bcm and a plan to bring Karish and Tanin developments with estimated reserves totalling first pilot gas onstream by late 2017, a target it achieved. Zohr’s 2.7 tcf of natural gas and 41 million barrels of oil equivalent. The output is said to be enough to cover the gap between Egypt’s reason for continued lack of interest from Big Oil most probably total gas consumption, which stood at 4.9 billion cubic feet per revolves around potential repercussions elsewhere in the world day in 2016, and its total daily production of 4 billion cubic feet, from involvement in Israel, plus procrastination by the authorities according to BP Statistical Review. over the development strategy for the country’s offshore assets Offshore Cyprus, 34 km west of Leviathan on Block 12, and uncertainty about the fiscal regime.

Noble Energy and partner Delek Drilling in 2011 announced the There was only one taker, a consortium of Total, Eni and the Aphrodite field containing an estimated 4.5-6 trillion cubic feet of Russian company Novatek, for two concessions in Lebanon’s gas. This year operator Eni and partner Total have declared that its Calypso 1 was a promising gas find and confirmed a ‘Zohr like’ first offshore round concluded last December. Rights to explore in one of the blocks could be challenged by Israel. play offshore Cyprus. ExxonMobil is now drilling in the area.

In contrast, Cyprus in 2016 invited in the big guns awarding Any production beyond domestic consumption from Cyprus Block 6 to Eni partnered by Total, Block 8 to Eni as sole licensee, is likely bound for Egypt meaning that Israeli gas imports, never and Block 10 to ExxonMobil and Qatar Petroleum. a popular option for political reasons, would no longer be so The message is clear in that oil companies feel comfortable commercially attractive to Egypt. It was therefore with an audible with the option of East Mediterranean gas exports being chansigh of relief in Israel that in February Delek Drilling and Noble nelled via Egypt. This is despite the country’s recent record Energy signed $15 billion in deals to export natural gas to Egypt (which it has been diligently trying to rectify) of not paying its over ten years from Leviathan and Tamar. dues to oil companies operating in the country, and the always The vital question of gas transport was left unclear. The lurking possibility of political disruption and/or regime change. partners said they were considering various options for the Commercial considerations appear to have won out against supply of the gas to Egypt, including via a Jordanian-Israeli long-held political distrust and resentment. Stakeholders appear pipeline that is currently being built or the use of the existing to be banking on a period of stability in the region, which is never East Mediterranean gas pipeline currently out of commission a given. since disruption in 2012.

Views expressed in Crosstalk are solely those of the author, who can be contacted at andrew@andrewmcbarnet.com.

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NEWS RELEASE

Calgary, Canada. March 5, 2018 – DTCC opens its SmartSoloŽ Experience Center (for hands-on demonstrations) in Beijing and its Houston Office at 14090 Southwest Freeway, Suite 300, Sugar Land, Texas 77478.

Clients are welcome to visit these facilities to experience the SmartSolo System.

HIGHLIGHTS

INDUSTRY NEWS

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Polarcus reports fourth quarter loss of -$91 million

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CGG completes 3D survey in Oklahoma

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Eni and ConocPhillips report improved Q4 results

CGG reduces its losses to -$75 million but reports first operating profit for eight quarters CGG has reported a fourth-quarter net loss of -$75 million on revenues of $401 million, compared with a net loss of

of $275/335 million, with a prefunding rate above 70%, and industrial and R&D capex of $100-135 million. Cost

CGG’s fourth quarter multi-client revenue was up 37% sequentially at $159 million.

-$124 million on revenues of $320 million in Q3 2017 and a net loss of -$280 million on revenues of $328 million in Q4 2016.

The company made an operating profit of $17.5 million compared with an operating loss of -$24 million in Q3 2017 and -$70 million in Q4 2016.

CGG made a full-year net loss of -$514 million on revenues of $320 million compared with a 2016 net loss of -$576.6 million on revenues of $1.195 billion.

In 2018 CGG expects revenues of $1.5 billion and multi-client capex

of debt will be $85 million and costs related to the transformation plan will be $25 million.

Jean-Georges Malcor, CGG CEO, said: ‘In a still challenging market overall, the group achieved a robust 22% growth in fourth quarter revenue year-on-year, thanks, in particular, to a high level of land equipment sales and the good positioning of our multi-client data library in the strategic basins offshore Brazil and the North Sea. This has led to positive quarterly operating income for the first time in eight quarters. After a decline in earnings over FIRST

the last three years, we recorded a 10% increase in revenue.

‘Our financial restructuring is now finalized. With a restored balance sheet, strong technological positions and proven operational excellence, the group has begun 2018 with renewed confidence and is ready to take full advantage of a rebound in the market.’

GGR revenue was $255 million, up 11% year-on-year and 37% sequentially.

Multi-client revenue was $159 million, up 18% year-on-year and 50% sequentially.

Three quarters of the fleet was allocated to multi-client programmes compared to 38% in Q4 2016 and 33% in Q3 2017.

Multi-client sales were the highest in Brazil and the North Sea. Prefunding revenue was $72 million, up 24% yearon-year and 3% sequentially. Multi-client cash capex was at $89 million, up 67% year-on-year and 66% sequentially. The cash prefunding rate was at 82% versus 109% in Q4 2016. After-sales were $87 million, up 14% year-on-year and 144% sequentially.Subsurface Imaging & Reservoir revenue was $96 million, stable year-on-year and up 20% sequentially.

GGR operating income was $63 million, a 24.8% margin. The multi-client depreciation rate was 53%, leading to a library net book value of $831 million at the end of December 2017, split 90% offshore and 10% onshore.

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ION reports a Q4 2017 net loss of -1.4 million

Equipment revenue was $116 million, up 38% year-on-year and 191% sequentially. External sales were $106 million, up 122% year-on-year and 193% sequentially. Internal sales were at $10 million in 2017 versus $36m in Q4 2016. Land equipment sales represented 64% of sales, compared to 44% in the fourth quarter of 2016, driven notably by 508XT deliveries. Marine equipment sales represented 36% of total sales, compared to 56% in the fourth quarter of 2016, driven notably by various sentinel sections deliveries. Equipment operating income was $9 million, a margin of 7.7%.

Contractual Data Acquisition revenue was $42 million, down 19% year-on-year and 58% sequentially.

Contractual Marine Data Acquisition revenue was $10 million, down 72% year-on-year and 86% sequentially. Vessel availability rate was 82%, compared to 90% in the fourth quarter of 2016 and 99% in the third quarter of 2017. Vessel production rate was 97%. The decrease in revenue can mainly be explained by the higher dedication to multi-client surveys, as 75% of the fleet was dedicated to multi-client programmes versus 38% in the fourth quarter of 2016 and 33% in the third quarter of 2017.

Land and Multi-Physics Data Acquisition revenue was $32million, up 92% year-on-year and 14% sequentially.

Contractual Data Acquisition made an operating loss -$33 million. ‘Contractual Data Acquisition activities continued to suffer from a competitive market and were further impacted by delays and weather conditions this quarter,’ said CGG.

ION Geophysical has reported a net loss of -£1.4 million on revenues of $57.9 million in the fourth quarter of 2017, compared to net income of $5 million on revenues of $61 million in Q3 2017 and a net loss of -$6.5 million on revenues of $35.4 million in the fourth quarter of 2016.

Excluding special items, the company reported an adjusted net income of $4.7 million in the fourth quarter of 2017.

ION’s an adjusted EBITDA for the fourth quarter of 2017 of $23.8 million, compared to $27 million in Q3 and $6.6 million in Q4 2016.

Net cash flows from operations were $18 million during the fourth quarter 2017, compared to $6 million in Q3 2017 and -$1.7 million in the fourth quarter of 2016.

Brian Hanson, the company’s president and chief executive officer, said, ‘Our efforts over the last two years to focus on select segments where capital is flowing, along with our asset light strategy, has paid off.

‘We had tremendous success with our 3D reimaging programmes, expanding our 3D data library from 8000 km2 to more than 165,000 km2 in just two years. In addition, after two years of very little new venture activity, we launched five new programmes in 2017, and have already secured underwriting for new programmes in 2018.

‘For example, we made significant headway in both executing deployments and developing the shrink-wrapped version of Marlin, our operations optimization platform. In 2017, Marlin deployments more than doubled with 39 new deployments across 19 projects. In addition, we offset some of the decline in seismic equipment revenues by selling existing technology to new customers in scientific, military and academic industries.

‘We expect 2018 will be a better year for ION, and as usual, believe the back half of the year will be stronger than the first half.’

Jean-Georges Malcor, CGG CEO.

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Within E&P Technology & Services, new venture revenues were $30.3 million, a 174% increase from the fourth quarter of 2016; data library revenues were $14.7 million, an 85% increase; and Imaging Services revenues were $3 million, a 52% decrease. A majority of the increase in new venture revenues originated from the company’s 3D multi-client reimaging programmes offshore Mexico and Brazil.

Within E&P Operations Optimization, Optimization Software & Services revenues were $4.2 million, a 4% increase from the fourth quarter of 2016. Devices revenues were $5.7 million, a 7% decrease from the fourth quarter of 2016.

The Ocean Bottom Seismic (OBS) Services segment contributed no revenues during the fourth quarter.

Consolidated operating expenses were $18.8 million, up from $16.7 million in the fourth quarter of 2016.

Within E&P Technology & Services, new venture revenues were $100.8 million, a 268% increase from Q4 0 2016; data library revenues were $40 million, a slight improvement; and Imaging Services revenues were $16.4 million, a 36% decrease.

Within E&P Operations Optimization, Optimization Software & Services revenues were $16.7 million, a slight decrease from 2016.

Consolidated operating expenses were $78.2 million, a slight decrease from 2016.

For the full year 2017, the company reported revenues of $197.6 million, compared to $172.8 million in 2016.

Excluding Ocean Bottom Seismic Services revenues from 2016, revenues increased 45% from last year. ION’s net loss was $30.2 million, compared to a net loss of $65.1 million in 2016.

Full year 2017 EBITDA was $64.5 million, compared to $10.5 million in 2016.

At 31 December 2017, the company had total liquidity of $67.6 million, consisting of $52.1 million of cash on hand and $15.5 million of undrawn borrowing.

INDUSTRY NEWS

Polarcus reports fourth quarter net loss of -$91 million but completes financial restructuring

The company has purchased Polarcus Nadia, above, and Polarcus Naila for $75 million.

Polarcus has reported a fourth-quarter net loss of -$91.7 million on revenues of $37.2 million, compared with a net loss of -$9.1 million on revenues of $58.5 million in the third quarter of 2017 and a net loss of -$97 million on revenues of $47.2 million in the fourth quarter of 2016.

The company reported an operating loss of -$86 million compared to -$3.6 million in Q3 217 and -$84.5 million in Q4 2016.

The latest figures included non-cash charges of $89.8 million related to the carrying value of the company’s seismic vessels, equipment and multi-client library as well as removal of ‘onerous contract provisions’. In better news for Polarcus, its backlog has increased to $164 million with 12 contract awards confirmed since the end of Q3 2017.

A net gain of $27 million was recognized for the termination of onerous contract provisions, mainly related to an operating lease for Polarcus Nadia, which was extinguished in Q1 2018 when Polarcus completed the purchase of Polarcus Nadia and Polarcus Naila.

Post-quarter end, Polarcus completed a financial restructuring, allowing the company to raise $38 million in new equity through a private placement. The company’s debt service over the next four years will be reduced by up to $166 mil-

lion. Outstanding unsecured bonds worth $170 million will be partly converted to equity reducing the remaining value of unsecured bonds to approximately $20 million. In addition, the company’s working capital facility was increased by $15 million to $40 million and its maturity extended by three years to 30 June 2022.

On 26 February 2018, Polarcus purchased Polarcus Nadia and Polarcus Naila for $75 million (fully financed by debt). The operating leases for these vessels, with a commitment of $90 million, were terminated.

Gross cost of sales was $37 million, down 8% from Q3 2017, while cash from operations of $18.5 million was up from $2.6 million in Q3 2017. Total cash balance of $33.7 million is up from $31.6 million at the end of Q3 2017.

The company’s 36% decline in revenue from the third quarter was driven by lower utilization, mainly owing to the vessel Polarcus Asima being idle.

Proprietary contract revenue decreased by 60% quarter-on-quarter to $16.6 million from $41.9 million in Q3, driven by a 59% decrease in the number of vessel days spent on proprietary contracts.

Multi-client revenue increased 24% to $6 million from $4.8 million in Q3 2017 but was down from $11.2 million in FIRST

Q4 2016. Polarcus recorded late sales of $2.5 million in the quarter, compared to $2.8 million in Q3 2017.

Long-term bareboat charter and management fee revenue remained stable at $10.5 million.

Polarcus improved its backlog, securing 12 contract awards since the end of Q3 2017, including a one-year extension of a seismic management contract. The company’s secured backlog has increased to $164 million from $125 million at the end of Q3 2017.

‘We have secured a significant increase in backlog since the end of Q3 2017. More than 90% of the six Polarcus active vessels are booked for the first half of 2018,’ said Duncan Eley, chief executive officer.

‘We still see cautious spending on seismic exploration by our clients, but tender activity is up year-on-year with some positive momentum going into 2018 and we expect to see the seasonal tightening of the market during Q2 and Q3. We remain positive on the fundamentals driving an improving market in the medium-to-long term, though there remains current uncertainty in the supply-demand balance in the present market.

‘Utilization of the 25-vessel global industry fleet was estimated at approximately 50% during Q4 2017, with Polarcus’ fleet utilization and quarterly revenue negatively impacted by this supply and demand imbalance at the back end of 2017. On a more positive note, we continued to reduce our gross cost of sales to the lowest levels since the fleet was launched.

‘The robustness of this financial foundation that we have put in place for the company is underscored by the fact that our existing long-term bareboat charters and management contract provide a fixed annual EBITDA contribution in excess of the company’s reduced annual debt service obligations.’

Total cash at the end of the fourth quarter was $33.7 million (up from $31.6 million in Q3 2017). The debt facility of $25 million remained undrawn at the end of Q4 2017. Interest-bearing debt is $260.7 million.

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INDUSTRY NEWS

CGG and Ardiseis complete highest density survey in Egypt CGG and Ardiseis have completed their highest-density broadband seismic survey in Egypt’s Western Desert.

The partnership between CGG and the subsidiary of the Arabian Geophysical and Surveying Company (ARGAS), said that 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 data that can be economically acquired in Egypt’s Western Desert and a quantum leap in imaging for the Middle East and North Africa region’.

Apache set Ardiseis the challenge of delivering reservoir characterization-ready broadband seismic data from a 2000km2, ultra-dense survey, representing 72 million traces per km2, two-to-three times denser than any survey acquired to date worldwide.

Ardiseis deployed CGG’s proprietary Unconstrained Blended Acquisition technology for the first time in Egypt with a large fleet of vibrators operating simultaneously and independently from each other non-stop. CGG successfully deblended the data by running its proprietary deblending algorithm on its massive computing resources. In addition, Ardiseis used CGG’s broadband suite of technol-

ogies, CleanSweep and EmphaSeis, to acquire the required low-frequency rich broadband data (starting from 1.5 Hz), which CGG said is free of the harmonic noise contamination that has hindered industry adoption of broadband high-productivity Vibroseis acquisition.

Joe Versfelt, Apache’s Egypt region exploration manager, said: ‘The large volume of 3D seismic data Apache has acquired over the years has limitations for imaging some structures, faults and stratigraphy. The preliminary results of the West Kalabsha 3D survey are extremely encouraging and we plan to acquire more of this high-grade seismic data in the region.’

Meanwhile, CGG and the Petroleum Corporation of Jamaica (PCJ) have announced the discovery of two independent live oil seeps from different parts of Jamaica, marking the first documented occurrence of ‘live’, or flowing, oil from onshore Jamaica.

The oil seeps were found during fieldwork for a recently completed multi-client Robertson Study of the petroleum potential of on- and offshore Jamaica.

Subsequent geochemical analyses confirmed the oil seeps originate from two separate Cretaceous source rocks.

The study comprises more than 1300

new geochemical, biostratigraphic and sedimentological analyses of more than 800 individual outcrop, well, borehole and seep samples collected from Jamaica.

Jamaica and its offshore basins remain relatively underexplored. Oil or gas shows have been seen in 10 of the 11 explora-

CGG is deploying Vibroseis trucks in the Western Desert.

tion wells drilled to date. The discovery of these seeps indicates the presence of working petroleum systems on the island that are generating and expelling liquid hydrocarbons to the surface.

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INDUSTRY NEWS

UK upgrades long-term oil and gas production estimate to nearly 12 billion boe Oil and gas production in the UK over the period 2016–2050 is now projected to total 11.7 billion barrels of oil equivalent (boe) according to new projections from the country’s Oil and Gas Authority.

The estimate in the report Projections of UK Oil and Gas Production and Expenditure is expected to be 2.8 billion boe higher than the production volume expected in the absence of implementation of the recommendations of the UK government’s 2014 Wood Review.

Data collected from the OGA’s 2017 annual Stewardship Survey informed the new analysis, which confirms that UK production was sustained at its highest

rate since 2011 and is expected to increase in 2018 as new fields come on stream.

In 2017, production was an estimated 1.63 million barrels of oil equivalent per day, the same rate seen in 2016. This was despite the Forties’ pipeline closure in December 2017, without which production would have risen slightly.

Operating costs in the basin are estimated to have risen by 3% last year while capital expenditure again fell significantly: The report also found that capital expenditure fell significantly for the third consecutive year and is expected to continue to fall for the foreseeable future; total operating costs rose marginally in

Spectrum reports fourth quarter net loss of $14 million Spectrum made a fourth quarter net loss of -$14.23 million on revenues of $46.1 million, compared to a net loss of $5.9 million on revenues of $17 million in Q3 2017 and a net profit of $2.5 million on revenues of $34.5 million in Q4 2016.

The company made an operating loss of -$6.9 million compared to an operating loss of $4.8 million in Q3 2017 and an operating profit of $48 million in the fourth quarter of 2016.

Investment in the multi-client library was $10.2 million, compared to $13.5 million in Q3 2017 and $7.4 million in Q4 2016. The net book value of the multi-client library was $169.4 million at the end of Q4 2017 compared to $201.6 million in Q3 2016 and $192.7 million at the end of Q4 2017. Cash flow from operating activities was $16 million compared to $22.9 million in Q3 2017 and $20.3 million in Q4 2016.

Late sales in Q4 were $35.7 million, compared to $7.6 million in Q3 2017 and $27.3 million in Q4 2016; prefunding of multi-client investments was $10.3 million (compared to $9.3 million in Q3 2017 and $2.5 million in Q4 2016) mainly related to surveys offshore Gabon and

Argentina. Multi-client investments were $10.2 million with a 101% prefunding rate, compared to $13.5 million with a prefunding rate of 69% in Q3 2017 and $7.5 million with a 34% prefunding rate in Q4 2016.

Operating cash flow in Q4 was $16.1 million, compared to $20.4 million in Q4 2016. Working capital is $20.9 million compared to $9.4 million in Q4 2016.

For the full year of 2017 the company made a net loss of -$26.8 million on revenues of $118.85 million and an operating loss of -$16 million. Cash flow from operations was $99.4 million and investment in the multi-client library was $82.3 million.

Late sales for 2017 were $61.4 million, compared to $50.3 million in Q4 2016; prefunding of multi-client investments was $57.2 million compared with $18.7 million in 2016, thanks to substantial take up of surveys offshore Gabon and Argentina. Multi-client investments were $82.4 million with a 70% prefunding rate, compared with $50.7 million with 37% prefunding rate in 2016. Operational cash flow was $99.4 million compared to $61.2 million in 2016.

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2017, but are still 27% below the 2014 high. After 2018 total operating costs are expected to fall with production at a more sustainable level of unit operating cost (UOC). Decommissioning costs rose 4% in 2017 and are expected to stay at current levels in the medium term. The latest decommissioning cost projection to 2022 is slightly lower than the previous estimate.

Dr Andy Samuel, OGA chief executive, said: ‘The extra 2.8 billion barrels identified shows the future potential of the basin which could be boosted further through investment and exploration successes.’

ION raises $50 million from public offering ION Geophysical has raised nearly $50 million in a public equity offering.

The company issued and sold 1,820,000 shares of common stock at a public offering price of $27.50 per share. The proceeds from this offering were $47,547,500, excluding transaction expenses.

The cash will be used to retire ION’s third lien indentures of $28,500,000 prior to the May 15, 2018 maturity date and for general corporate purposes.

The warrants have an exercise price of $33.60 per share, are immediately exercisable and expire on 21 March 2019. If the warrants are exercised in full prior to their expiration, ION would receive additional proceeds of $61,152,000.

Brian Hanson, ION’s president and chief executive officer said: ‘While we had sufficient liquidity to retire the third lien bond maturing this May, these additional funds will further strengthen our balance sheet and enable us to be opportunistic and support continued diversification into adjacent markets.’

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INDUSTRY NEWS

CGG completes 3D survey in Oklahoma CGG has completed acquisition of its Yukon 3D multi-client survey in Canadian County, Oklahoma, US. The 567 km2 full-azimuth survey is designed to image the stack play of the Anadarko Basin west of Oklahoma City.

Imaging efforts will focus on gaining a better understanding of the facies distribution of the Meramec, Osage and Woodford play intervals. A preliminary prestack time-migrated (PSTM) product is due for completion in March. A final PSTM product, incorporating orthorhombic anisotropy, with 5D regularization and interpolation of azimuths and offsets, will be delivered in the second quarter of 2018.

This processing workflow will pave the way for a full Reservoir Optimization Package (ROP), which delivers enhanced reservoir characterization utilizing CGG’s RoqScan rock physics workflows. This leads to predictive model generation of key properties that control production, including spatial reservoir quality, permeability, porosity and reservoir thickness. These are then used to create calibrated geomechanical models including geostatistical inversion for completion optimization.

Meanwhile, CGG GeoSoftware has announced new releases across its entire geoscience portfolio.

The new ‘load-once-use-it-everywhere’ capability enables Jason users to operate on HampsonRussell seismic stores and vice-versa without the need to duplicate, move or reload seismic volumes.

Jason 9.7.1 extends and enhances reservoir characterization capabilities with the integration of a rock physics template in Jason crossplots and interpretation.

Advanced geostatistical reservoir characterization is also now available to extract the full value from seismic data, whether 4D, multi-component, depth or wide-azimuth.

The Jason Organizer makes it easier to organize standard workflows, as well as develop and share client-specific ones.

For geophysical interpretation and analysis, HampsonRussell 10.3 offers much faster loading and processing of huge data volumes than previous versions, while pre-stack inversion now requires fewer iterations. Other features include new functionality for quick AVO modelling with rock physics inputs, horizontal well correlation, a new process for de-spiking, and new advanced spectral decomposition attributes for pre-inversion analysis and improved resolution.

PowerLog 9.7.1, GeoSoftware’s petrophysical solution for well log analysis, includes an improved well selector and better data management. Windows-linking lets users set up preferred interpretation workflows including multiple viewers and processors to improve analysis of large data sets. Python Extensions plug-ins have been implemented.

InsightEarth accelerates 3D visualization and interpretation. InsightEarth 3.4 allows streaming of large seismic volumes, so that users can work on large data sets.

The survey will image the stack play of the Anadarko basin.

Other enhancements include a redesigned trim-and-seal process, new spectral decomposition algorithms, and better quality and tightness of fault images from Automated Fault Extraction.

The post-stack velocity modelling application VelPro 9.7.1 now offers depthto-depth calibration, four modelling workflows in one solution, and post-stack depth migration.

EarthModel 9.7.1 offers a new grid format and a new export format for 3D properties to ease connection to fracture simulation workflows.

Finally, CGG’s Multi-Physics Marine group achieved a record production rate of 99.7% in 2017, including acquisition of gravity and magnetic (GravMag) data totalling nearly 24,000 sail line kilometres during one of the world’s largest proprietary 3D marine seismic surveys.

Geophyiscal Insights teams up with University of Oklahoma to upgrade seismic analysis software Geophysical Insights has agreed to license data from the Attribute Assisted Seismic Processing & Interpretation (AASPI) Consortium at the University of Oklahoma.

As part of the agreement, Geophysical Insights will license AASPI seismic analysis software technology and incorporate the technology into its Paradise software platform. Geophysical Insights will also

provide maintenance and support services for commercial products built using the AASPI technology that will run on Paradise.

Dr Tom Smith, founder of Geophysical Insights, said: ‘The outstanding research work done by the AASPI Consortium aligns with our work of applying machine-learning processes to seismic interpretation via the Paradise platform. Under Dr Marfurt’s

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leadership, the researchers at the AASPI Consortium are generating world-class seismic analysis technology, even better than many commercial products on the market.

This is particularly true of their large library of robust geometric seismic attributes.’

The first application of the AASPI technology in Paradise will be an expanded library of geometric attributes in the Paradise Attribute Generator.

INDUSTRY NEWS

TGS reports fourth quarter net profit of $55 million TGS has reported fourth-quarter net income of $54.9 million and operating revenues of $157 million compared to net income of $29.2 million and operating revenue of $165 million in Q4 2016 and net income of $9.4 million and operating revenues of $142 million in Q3 2017.

Net late sales were $143 million, compared to $145 million in Q4 2016 and $78.5 million in Q3 2017. Net pre-funding revenues were $11 million (funding 41% TGS’ operational multi-client investments for the quarter), down from $17 million in Q4 2016 and $61.5 million in the third quarter of 2017 owing to lower investments.

Operational multi-client investments were $28 million, down from $46 million in Q4 2016 and $114.5 million in the third quarter of 2017.

Free cash flow of $56 million in Q4 2017 rose from $33 million in Q4 2016 and -$18.7 million in Q3 2017, resulting in a cash balance of $250 million.

Full-year 2017 net revenues were $492 million up 8% from $456 million in

2016. This resulted in full-year operating profit of $97 million (20% of net revenues), compared to $53 million (12% of net revenues) in 2016.

Net late sales were $369 million, up 11% from $333 million in 2016.

Net pre-funding revenues were $116 million, up 10% from $105 million in Q4 2016, funding 44% TGS’ operational multi-client investments for the year.

Operational multi-client investments were $260 million, up from $220 million in 2016.

Cash flow from operations was $461 million, up 42% from $324 million in 2016.

TGS expects to make $260 million of new multi-client investments while funding of new multi-client investments is expected to be approximately 45-50%.

Amortization of the multi-client library is expected to be approximately $310 million.

Acquisition enhancement

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Sercel sells seismic equipment to Arctic research foundation 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 to record critical data about the relationship between geological activity and ecosystems in order to gain a better understanding of the Earth’s system.

Launched in 2017, Sentinel HR is the latest member of Sercel’s Sentinel solid streamer family. With a close channel separation of 3125 m, Sentinel HR is designed for shallow target applications and high-resolution 3D surveys and Sercel claims that it delivers an industry-best hydrophone performance. Driven by Sercel’s new-generation Seal 428 marine seismic recorder, up to 6 km of Sentinel HR can be deployed

SeisRoX

with full data and power redundancy for non-stop acquisition.

AWI has also added the combination of Sercel’s SeaProNav integrated high-end navigation system and QuietSea Passive Acoustic Monitoring (PAM) system to its marine seismic equipment portfolio to optimize marine mammal detection during seismic acquisition.

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INDUSTRY NEWS

EMGS reports a fourth quarter net loss of $-5.9 million EMGS has recorded a net loss of $-5.9 million on revenues of $11.3 million in the fourth quarter of 2017, up from a net loss of $-15 million on revenues of $12 million in the fourth quarter of 2016, but down from a net loss of $-1.5 million on revenues of $10 million in the third quarter of 2017.

Losses from the full year of 2017 were -$21.5 million on revenues of $35.9 million up from losses of -$52.1 million on revenues of $44.5 million in 2016.

Reduced revenues in 2017 were the result of fewer proprietary contracts and less work outside of Norway.

Contract and other sales totalled $1.6 million, while multi-client sales

amounted to $9.7 million in the fourth quarter of 2017. This compared with contract sales of $4 million and multi-client sales of $8 million in the fourth quarter of 2016. In the third quarter of 2017 contract sales were $400,000 and multi-client sales were $9.3 million.

EMGS has reduced its quarterly cost base, consisting of all operational costs including multi-client investments, from $14.3 million in the fourth quarter last year to $11.6 million in Q4. For the full year of 2017 the company’s charter hire, fuel and crew expenses of $10.3 million were reduced from $18.2 million in 2016.

The company recorded EBITDA of $0.4 million, up from negative $-2.1 mil-

lion in the fourth quarter of 2016 but down from $2.9 million in the third quarter of 2016. Free cash decreased by $6.4 million to $23.1 million mainly owing to negative cash flow from operating and investing activities.

During the quarter, the Atlantic Guardian acquired data on a pre-funded multi-client survey in Canada and multi-client surveys in the Barents Sea. The BOA Thalassa was idle until late November, after which she mobilized for two pre-funded multi-client surveys offshore Indonesia.

Meanwhile, EMGS has announced that it is refinancing the company with a $32.5 million bond and a $12.5 million rights issue.

Ineos takes legal action to carry out geophysical survey underneath UK national park A British High Court judge has granted Ineos permission to pursue its application to undertake a geophysical survey in a national park in the East Midlands of the UK after the landowner the National Trust refused to give it access to the land.

The case will be heard by a judge who has the power to grant Ineos access to National Trust land at Clumber Park, 15.4 km2 of parkland, heath and woods in Nottinghamshire in the UK’s East Midlands.

In referring the matter to the High Court, the UK Oil and Gas Authority (OGA) noted the UK Government’s support for the shale industry in the UK and

that the geophysical survey is required to explore for resources in its licenced area.

‘The National Trust’s refusal to meet to

negotiate applicable terms and conditions despite INEOS’ repeated efforts to engage since 2016 was also acknowledged,’ said Ineos in a statement.

The company added that geophysical surveys have been categorized by the OGA as ‘non-intrusive’, represent no threat to the landscape and all data gathered would be gifted to the nation for future research.

Such surveys are part of Ineos’ obligations to the UK Government under its licences.

Lynn Calder, commercial director of Ineos Shale, said: ‘Legal action has been the last resort and we have used powers which prevent landowners from blocking projects which benefit the wider community and the nation as a whole. These surveys are both routine and necessary across the UK, including on National Trust land.’

BGP wins contract for 2D survey in Myanmar BGP has won a contract to perform a 2D land seismic survey of PSC Block H and PSC Block C-1 in Myanmar for client Pacific Hunt Energy.

The seismic land survey contracts for both blocks total more than 465 line-km in length and are sched-

uled to start in the fourth-quarter of 2017.

‘We are pleased to award the tenders to BGP, which has scored the highest in both of our technical and HSE evaluation,’ said Grant Peterson, Pacific Hunt Energy managing director.

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‘BGP is a leading geophysical service company with experience operating in terrains similar to our blocks and we are confident that it will be able to complete the seismic surveys successfully in the upcoming dry season,’ he added.

INDUSTRY NEWS

88 Energy starts 3D survey in Alaska

88 Energy has started a 3D seismic acquisition across the Western Margin of the Project Icewine acreage on the North Slope of Alaska. The survey will firm up drilling candidates identified from interpretation of ~2350-line km of modern and reprocessed 2D seismic data.

The 3D survey will be acquired using the vibroseis slip-sweep method, covering an area of approx. 460 km2. Acquisition parameters have been zoned to optimize fold and imaging across significant conventional leads already identified in areas that historically have imaged poorly

owing to permafrost and the presence of icelakes.

The focus of the acquisition is principally across the Western Play Fairway, where the opportunity exists to mature and test multiple stacked conventional objectives with one well.

Exceptional exploration drilling success has been reported on the North Slope over the last four years using 3D seismic data to delineate and map similar stratigraphic/structural conventional targets.

The objective of the 3D acquisition in 2018 is to mature the conventional portfolio with a view to select one or more drilling candidates for the 2019 season. Results are scheduled for August/ September 2018, which will facilitate a planned farm-out prior to year-end on the drilling programme.

Operations started on 7 February 2018 and are expected to take 45 days.

The company has largely completed permitting for two potential drilling locations. The resource potential is estimated at 1.9 billion barrels gross and 1.05 billion barrels net.

Eni and ConocoPhillips report improved Q4 results Eni has reported a net profit of of €2.1 billion ($2.6 billion) in the fourth quarter of 2017 and more than doubled its full-year operating profit at €3.4 billion ($4.22 billion).

Full-year net capex was €7.6 billion, down by 18% y-o-y. Net debt is €10.92 billion.

In 2017 the company discovered 1 billion boe of new resources, of which 800 million was from in-house exploration with a discovery cost of approximately 1 $/bbl. It also acquired new exploration licences in Morocco, Mexico, Cyprus, Ivory Coast and Norway.

Proved hydrocarbon reserves are 7 billion boe.

Claudio Descalzi, CEO of Eni, said: ‘In Upstream we beat our histor-

ical record of production having even reduced our development capex by 40% vs. the 2014 baselines. Consequently, our cash generation increased 50%.

Meanwhile, ConocoPhillips has reported fourth-quarter 2017 earnings of $1.6 billion compared with a fourth-quarter 2016 net loss of $35 million. Excluding special items, fourth-quarter 2017 adjusted earnings were $0.5 billion compared with a fourth-quarter 2016 adjusted net loss of $0.3 billion.

Full-year 2017 earnings were a net loss of $0.9 billion compared with a full-year 2016 net loss of $3.6 billion.

Excluding special items, full-year 2017 adjusted earnings were $0.7 billion compared with a full-year 2016 adjusted net loss of $3.3 billion.

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Claudio Descalzi, CEO of Eni.

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Spectrum wins contract to carry out 2D survey in the Indian Ocean The Joint Commission administering the Mascarene Plateau between Mauritius and the Seychelles has signed an agreement with Spectrum to acquire a 20,000 km broadband 2D multi-client seismic survey in the Indian Ocean.

It is the first agreement after the ratification of treaties between the two countries in 2012 concerning management of the continental shelf of the Mascarene Plateau Region, which extended their joint jurisdiction by 396,000 km2. Since then, Mauritius and the Seychelles have been developing a legal and institutional framework, which include a Model Petroleum Agreement, environmental code of practice, offshore petroleum safety code, and joint fiscal and taxation code.

Despite its location in the middle of the Indian Ocean, approximately 20% of the JMA area is in shallow water of less than 1000 m. This area is surrounded by oceanic crust of Cretaceous age, yet this shallow depth demonstrates that the crust has an anomalously low density. Spectrum has modelled gravity response over the JMA to be compatible with a fragment of the Madagascar-West

The company will carry out a 20,000 km survey between Mauritius and the Seychelles.

Indian Jurassic and Early Cretaceous Crust.

Neil Hodgson, executive vice-president, Geoscience, Spectrum, said: ‘Our basin modelling puts the potential Seychelles style pre-volcanic source rocks into the oil window; this is corroborated by the presence of high-quality oil slicks

above the prospective area captured on satellite data. A live working hydrocarbon system lying unexplored below the basalts across this whole area is clearly demonstrated. Modern seismic acquisition and broadband processing techniques will allow us to reveal the oil potential of this fascinating basin.’

ExxonMobil to carry out seismic survey offshore Ghana ExxonMobil has pledged to carry out a seismic survey offshore Ghana after signing an agreement with the country’s government to acquire exploration and production rights for the Deepwater Cape Three Points block.

Exploration activities, including acquisition of seismic data and analysis, are expected to start later in 2018. The Deepwater Cape Three Points block, 92 km off the coast of Ghana, measures approx 1482 km2 in water depths ranging from 1550 m to 2850 m.

Steve Greenlee, president of ExxonMobil.

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‘The addition of this block reaffirms ExxonMobil’s commitment to pursuing high-quality projects in areas with large resource potential,’ said Steve Greenlee, president of ExxonMobil.

ExxonMobil will carry out the work programme as operator, holding an 80% interest. Ghana National Petroleum Corp holds a 15% interest. ExxonMobil will work with the Ghanaian government to identify a local company to potentially hold up to a 5% interest.

INDUSTRY NEWS

Risk analysis company warns of unstable hotspots that could impact exploration Government instability is set to rise over the next three years in oil and gas producing countries including Russia, Kazakhstan, Egypt, Kenya and Uganda, which could impact the upstream projects of major energy companies, a new report from global risk analysis company Verisk Maplecroft has revealed.

‘We don’t see increasing instability necessarily ending in coups or significant political upheaval, but a less predictable above-ground-risk environment is likely to emerge,’ said James Lockhart-Smith, Verisk Maplecroft’s head of financial risk.

‘Arbitrary decision making, possible measures to buy off key stakeholders or an inability to pass regulatory reforms will be the main risks to projects in these countries as their governments seek to stabilize and maintain their influence,’ he added.

The report highlighted the stand-off on the Korean peninsula and the ongoing

BRIEFS

‘cold war’ between Saudi Arabia and Iran as the only two geopolitical flashpoints with realistic potential to impact oil prices if they escalate this year.

Outright war in either region is unlikely, however, according to the organization’s Interstate Tensions Forecasting Model, despite an increase in the probability of some form of military incident or show of force between the US and North Korea, which Verisk says has increased from 36% to 56% since the start of 2017.

The likelihood for a direct militarized dispute between Saudi Arabia and Iran is lower at 26%.

‘In the worst-case scenario, war between Saudi Arabia and Iran would hit oil supply and cause a spike in prices, while conflict on the Korean Peninsula would have serious negative consequences for the global oil and liquefied natural gas trade,’ Verisk added.

California to sue Trump administration over fracking California’s attorney-general has announced state plans to sue the Trump administration over its repeal of rules meant to address public safety concerns over hydraulic fracturing on federal lands.

The federal government’s Bureau of Land Management (BLM) in 2015, under President Obama, issued rules that would have required companies to provide data on chemicals used in fracking and to take steps to prevent leakage from oil and gas wells on federally owned land.

Attorney-general Xavier Becerra.

However, the rules for federal and tribal lands were never implemented because oil and gas industry groups sued to block them, arguing that they were unnecessary and would ‘slow the country’s path to energy independence’. That litigation ended when the Trump administration repealed the regulations last year.

California’s attorney-general Xavier Becerra said: ‘They did nothing at BLM to undo the rule with any justification or factual basis. There is plenty of reason to doubt that the fracking repeal engaged in by the Trump administration would withstand scrutiny in a court.’

Several of the environmental groups involved in the earlier litigation, including the Sierra Club, Earthjustice and the Center for Biological Diversity, also planned to file a lawsuit against the US government.

FIRST

Fourteen companies have qualified to bid in Brazil’s 15th licensing round that was due to be held on 29 March.

Companies listed for the offshore blocks are BP; Chevron; Exxonmobil; Murphy; Petronas; Premier Oil; QPI; Repsol; Shell; Total; and Petrobras. Companies qualifying for the onshore round are Cobra; Parnaíba; Petrobras; and Rosneft. There will be 70 blocks in the sedimentary basins of Ceará, Potiguar, Sergipe-Alagoas, Campos and Santos and in the Parnaíba and Paraná basins. In all, 17 companies completed the registration form for maritime areas and five for land areas.

Knut Eriksen has joined the board of FairfieldNodal as a director. Eriksen recently retired from Oceaneering International where he served as executive officer and senior vice-president of business development. He has also held other executive positions on the operator, service company and contractor sides of the oil and gas business.

IFP Energies nouvelles (IFPEN), Beicip-Franlab (BF) and KAPPA Engineering (KAPPA) have teamed up to develop a reservoir simulation solution. The agreement follows collaboration between BF and KAPPA on the commercialization of PumaFlow, IFPEN’s reservoir flow simulator. The latest product features a PumaFlow simulator executed from a new interface integrated into KAPPA-Workstation.

Earthmoves has produced a South Atlantic Digital Atlas giving an overview of all the blocks that will feature in licensing rounds in 2018, including offshore Brazil, Argentina and Uruguay as well as offshore Congo, Cameroon, Ivory Coast and Sierra Leone. Find out more at earthmoves.co.uk/licence-rounds/ The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has issued a Call for Nominations of areas of interest in Eastern Newfoundland ahead of a licensing round.

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INDUSTRY NEWS

NPD signs deal to support data management in developing world The Norwegian Petroleum Directorate has signed a two-year agreement to deliver assistance and training in the management and digital upgrading of seismic data for the Oil for Development Programme that supports developing countries.

Under the agreement, which could be extended, the NPD will be supported by Geofysikar Tømmerbakke and Moveout Data.

Ronny Tømmerbakke, owner of Geofysikar Tømmerbakke, said: ‘With this framework agreement, Geofysikar Tømmerbakke and partner Moveout Data will support the NPD in building competent institutions within the collaborating developing countries.’

Moveout Data will make available its proprietary Metaseis software. The company’s remastering solution aims to streamline, cleanse and standardize clients’ data. The cloud-based management options enable clients to view, access and share data with partners in real time worldwide.

Polarcus wins seismic acquisition contracts in West Africa and Central America Polarcus has entered into a contract for a 4D marine seismic acquisition project in West Africa. The project is due to commence in Q2 2018 and will run for approximately one month.

Meanwhile, the company has also announced a one-year extension to a support services agreement with a big oil company which covers seismic operational support, maritime management and crewing support.

Finally, Polarcus has announced that it has won a contract from an undisclosed client for a broadband 3D marine seismic acquisition project in

The company has also extended a support services agreement.

Central America. The project is due to start in Q2 2018 and will run for approx. two months.

India offers 60 oil and gas blocks India will offer 60 oil and gas fields in the second auction of Discovered Small Field round.

Out of the 60 fields, 22 were discovered by Oil and Natural Gas Corp (ONGC), five belong to Oil India Ltd and 12 are relinquished fields/discoveries from blocks offered in bids rounds under New Exploration Licensing Policy (NELP) since 1999.

The remaining 21 are fields that did not receive any bid in the DSF first round last year.

The fields on offer for model sharing contracts are estimated to have 194.65 million tonnes of oil and oil equivalent gas in place.

In the first round last year, 31 oil and gas contracts were signed. It was India’s first bidding round for six years.

TGS launches 3D land survey in the US TGS has expanded its 2018 onshore seismic activity with the Canton 3D seismic survey in the Anadarko Basin in the states of Oklahoma and Texas.

This project will encompass a minimum of 452 miles2 (1170 km2) north of TGS’ Loyal Complex, targeting the high-potential Mississippian Chester, Osage and Meramec intervals in the heart of the prolific scoop/stack play fairway.

Permitting of the survey has already commenced and data acquisition is expect-

The Anadarko basin is a top US shale play.

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ed to begin in Q2 2018, with preliminary data available in Q4 2018 and final data in Q1 2019. The data will be processed

by TGS. ‘The Anadarko Basin is recognized as a top US shale play and it is generating high interest from producers nationwide. Along with the recently announced Hackberry Complex and existing Loyal Complex surveys, TGS now offers contiguous modern seismic data coverage in this prolific area,’ said Kristian Johansen, CEO for TGS.

Special Topic

PASSIVE SEISMIC

Interest in passive seismic techniques, particularly microseismic monitoring, is continuing to grow, driven by the success of these techniques in providing insights into the subsurface geomechanical processes.

Germán Rodríguez-Pradilla et al analyse microseismic data from a CBM reservoir located close to the northern limit of Cesar-Ranchería Basin, Colombia.

S.C. Maxwell discusses various conceptual models to spark a broader scientific discussion so that an interpretational consensus can be reached.

Alex Goertz et al discuss the value of real-time seismic monitoring in offshore oilfields and present results from a fibreoptic pilot installation in a Norwegian fjord.

S. Bussat et al demonstrate how processing and analysis of large amounts of passive data will allow for real-time injection monitoring at Grane.

K. Polychronopoulou et al describe the a QC procedure that takes into into account all types of passive seismic signals in order to assess the suitability of each type of instrument.

Gisela Viegas et al propose that earthquakes occurring in higher stressed regions have higher stress drops, as these regions are subjected to higher strain rates and store larger amounts of elastic strain.

Alena Grechishnikova studies one of the major reservoir unconventional resource plays in the US to answer the question: ‘Will microseismic data, taken alone, prove to be a sufficiently representative source of information when evaluating the reservoir response and estimating success of completion strategies?’

Submit an article

Special Topic overview January

Land Seismic

First Break Special Topics are covered by a mix of original articles dealing with case studies and the latest technology. Contributions to a Special Topic in First Break can be sent directly to the editorial office (firstbreak@eage.org). Submissions will be considered for publication by the editor.

February

Reservoir Monitoring

March

Petroleum Geology

April

Passive Seismic

May

Modelling/Interpretation

June

Opportunities presented by the energy transition

It is also possible to submit a Technical Article to First Break. Technical Articles are subject to a peer review process and should be submitted ia EAGE’s ScholarOne website: http://mc.manuscriptcentral.com/fb

July

Unconventionals & Carbon Capture and Storage

August

Near Surface Geoscience

September

Reservoir Geoscience and Engineering

October

EM & Potential Methods

November

Marine Seismic

December

Data Processing

You can find the First Break author guidelines online at www.firstbreak.org/guidelines.

More Special Topics may be added during the course of the year.

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Processing & Imaging

Clearly Better.

Agile, responsive teams of experts, available when, where and for however long you need them. Get high-quality data rapidly, reduce costs and build in flexibility at the heart of your project.

Revealing possibilities shearwatergeo.com

CALENDAR

CALENDAR OF EVENTS 9-13 SEPTEMBER 2018

Near Surface Geoscience Conference & Exhibition 2018

www.eage.org • Porto, Portugal

April 2018 8-13 Apr

EGU General Assembly 2018

9-12 Apr

EAGE Saint Petersburg 2018

11-12 Apr

EAGE-HAGI 1st Asia Pacific Meeting on Near Surface Geoscience & Engineering

16-19 Apr

Second EAGE/AAPG Hydrocarbon Seals of the Middle East Workshop

18-19 Apr

DGMK Spring Meeting 2018

24-26 Apr

Iceland Geothermal Conference 2018

23-27 Apr

Engineering and Mining Geophysics 2018

25-26 Apr

EAGE Second SPE/EAGE Workshop on Integrated Geomechanics in E&P

www.egu2018.eu www.eage.org www.eage.org www.eage.org www.dgmk.de www.igc.is www.eage.org www.eage.org

Vienna

Austria

Saint Petersburg

Russia

Yogyakarta

Indonesia

Abu Dhabi

UAE

Celle

Germany

Reykjavik

Iceland

Almaty

Kazakhstan

Abu Dhabi

UAE

Aberdeen

UK

Calgary

Canada

Cancun

Mexico

Kiev

Ukraine

Kuala Lumpur

Malaysia

May 2018 2-3 May

Seismic 2018

7-9 May

GeoConvention 2018

14-15 May

First EAGE Workshop in Deepwater Exploration

14-16 May

EAGE Geoinformatics 2018

14-16 May

EAGE/SEG Workshop on Marine Multi-Component Seismic

www.spe-aberdeen.org/events/seismic-2018-seismic-asset-lifecycle-building-future/ www.geoconvention.com www.eage.org www.eage.org www.eage.org

EAGE Events

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CALENDAR

16-18 May

12th Polish Congress of Oil and Gas Industry Professionals

Krakow

Poland

20-23 May

AAPG 2018 Annual Convention & Exhibition

Salt Lake City

USA

www.aapg2018.org

June 2018 11 Jun

Your Career Symposium http://events.eage.org/en/2018/eage-annual-2018/highlights/young-professionals-symposium

Copenhagen

Denmark

11-14 Jun

80th EAGE Conference & Exhibition 2018

Copenhagen

Denmark

17-20 Jun

7th International AEM Conference and Exhibition

Kolding

Denmark

18-21 Jun

17th International Conference on Ground Penetrating Radar

Rapperswil

Switzerland

Irkutsk

Russia

Oslo

Norway

Barcelona

Spain

Cheng Du

China

Barcelona

Spain

Porto

Portugal

Gelendzhik

Russia

Barcelona

Spain

Rueil-Malmaison

France

Santander

Colombia

Dallas

USA

Muscat

Oman

Perth

Australia

Valletta

Malta

www.eage.org

www.conferencemanager.dk/AEM2018

www.gpr2018.hsr.ch

August 2018 11-17 Aug

GeoBaikal 2018

22-24 Aug

Marine Acquisition Workshop 2018

www.eage.org

www.eage.org

September 2018 3-6 Sept

ECMOR XVI 2018

5-7 Sept

Unconventionals in China – The Next 10 Years

7 Sept

EAGE/ TNO Workshop on OLYMPUS Field Development Optimization

9-13 Sept

Near Surface Geoscience Conference and Exhibition 2018

10-14 Sept

EAGE Geomodel 2018

17-20 Sept

DMG Gastech 2018

18-20 Sept

First EAGE/IFPEN Conference on Sulfur Risk Management in E&P (SRM 2018)

21-22 Sept

First EAGE Workshop on High Performance Computing for Upstream in Latin America

24-26 Sept

SPE SPE ATCE 2018

www.eage.org

www.eage.org

www.eage.org

www.eage.org

www.eage.org

www.gastechevent.com

www.eage.org

www.eage.org

www.atce.org

October 2018 1-4 Oct

Second EAGE Workshop on Geochemistry in Petroleum Operations and Production

10-11 Oct

EAGE Workshop on Continuous Improvement in 4D Seismic

18-19 Oct

Mediterranean Workshop

EAGE Events

www.eage.org

www.eage.org

www.eage.org

Non-EAGE Events

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EAGE/TNO Workshop on OLYMPUS Field Development Optimization 7 September 2018 – Barcelona, Spain This interactive workshop brings together experts on field development optimization methods to evaluate and demonstrate the potential of state-of-the-art optimization under uncertainty to industry, research organizations and academia.

Topics This one-day workshop provides the platform for all participants to present and discuss their results. The challenge consists of 3 exercises on optimization under uncertainty: • Well control optimization • Well placement optimization • Joint optimization of well placement and control Submit your abstract now and present your results obtained during this one-day workshop in Barcelona.

www.eage.org

Call f Abst or ra D e a d ct s line: 16 A pril 2 018

Submit your Abstract!

TNO18 V2H.indd 1

19/02/18 11:17

TW

OG INC E A R O LO G L U D I N OU N D IC A L G WO LA KE R BA K S H O IK A PS L

THE FIFTH INTERNATIONAL CONFERENCE

DEADLINE CALL FOR ABSTRACTS — 1 MAY 2018 11-17 AUGUST 2018 | IRKUTSK, RUSSIA WWW.EAGE.ORG / WWW.EAGE.RU

GB18 V2H.indd 1

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