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MARKET WATCH: Oil price rises amid geopolitical tensions (Oil & Gas Journal, January 5, 2009, 11:25 AM)

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GEOSCIENCES

Geotrace is scheduled to conduct one of the world’s largest onboard seismic data processing projects to BP Exploration Libya Ltd. as part of a seismic acquisition contract awarded to Wavefield Inseis by BP Exploration Libya. Geotrace, through its long-term agreement with Wavefield Inseis, will outfit the Geowave Endeavour with a large computer center for onboard processing. This will allow the seismic data to be managed quickly and cost effectively.

The project will cover 17,000 sq km (6,564 sq mi) of 3D seismic data processing in Libya’s offshore Sirt basin. Geotrace will complete the processing using proprietary software installed on one of the largest Linux clusters afloat. The onboard processing will include surface related multiple elimination, pre-stack time migration, and dense velocity analysis.

“This type of onboard data processing project is ideal for Geotrace,” says Bill Schrom CEO of Geotrace. “It will enable us to utilize some of our advanced imaging techniques while processing in an onboard environment.”

RXT to explore Caspian Sea

Exploration Technology ASA (RXT) has received a 3D seismic contract from CentrCaspneftegas LLP in the Caspian Sea.

The contract covers a 180-day 3D ocean bottom seismic (OBC) survey of the Centralnoye field, in the central part of the Caspian Sea offshore Russia. The survey will be carried out with the vessel RXT3.

“This contract complements very well the [currently ongoing] Kashagan and Shah Deniz projects [in Kazakhstan and Azerbaijan] and further validates RXT’s strategy to keep a crew permanently in the Caspian region,” says Michael Scott, CEO of RXT.

Fugro forms gravity, magnetic company

Fugro has created Fugro Gravity & Magnetic Services (FGMS) to market its worldwide gravity and magnetic capabilities for oil and gas E&P.

“The formation of FGMS will allow us to tie together the whole spectrum of gravity and magnetic services – data acquisition and processing, interpretation, multi-client offerings, and software for marine, land and airborne applications,” says Mark Weber, president of the new entity.

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Volume 68  Issue 9   September 2008

Offshore Current Issue Table of Contents


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