New Spy Technology to Spawn Oil Revolution

New Spy Technology to Spawn Oil Revolution

Postby Oscar » Wed Mar 12, 2014 8:50 am

New Spy Technology to Spawn Oil Revolution

[ http://www.oilgasdaily.com/reports/New_ ... n_999.html ]

by James Burgess of Oilprice.com Washington DC (SPX) Mar 06, 2014

The future of oil exploration lies in new technology--from massive data-processing supercomputers to 4D seismic to early-phase airborne spy technology that can pinpoint prospective reservoirs.

Oil and gas is getting bigger, deeper, faster and more efficient, with new technology chipping away at "peak oil" concerns. Hydraulic fracturing has caught mainstream attention, other high-tech developments in exploration and discovery have kept this ball rolling.

Oil majors are second only to the US Defense Department in terms of the use of supercomputing systems, which find sweet spots for drilling based on analog geology. These supercomputing systems analyze vast amounts of seismic imaging data collected by geologists using sound waves.

What's changed most recently is the dimension: When the oil and gas industry first caught on to seismic data collection for exploration efforts, the capabilities were limited to 2-dimensional imaging. The next step was 3D, which gives a much more accurate picture of what's down there.

The latest is the 4th dimension: Time, which allows explorers not only to determine the geological characteristics of a potential play, but also tells them how a reservoir is changing in real time. But all this is very expensive. And oilmen are zealous cost-cutters.

The next step in technology takes us off the ground and airborne-at a much cheaper cost-according to Jen Alic, a global intelligence and energy expert for OP Tactical.

The newest advancement in oil exploration is an early-phase aerial technology that can see what no other technology-including the latest 3D seismic imagery-can see, allowing explorers to pinpoint untapped reservoirs and unlock new profits, cheaper and faster.

"We've watched supercomputing and seismic improve for years. Our research into new airborne reservoir-pinpointing technology tells us that this is the next step in improving the bottom line in terms of exploration," Alic said.

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[ http://www.oilgasdaily.com/reports/New_ ... n_999.html ]
Oscar
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