Future of Seismic Technologies in the O&G Industry

New York, Jan. 12, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Future of Seismic Technologies in the O&G Industry” – https://www.reportlinker.com/p06218429/?utm_source=GNW

Operators are constantly looking for ways to improve acquisition, processing, and interpretation methods by leveraging the power of digitalization to improve workflow efficiency and reduce model uncertainties. High-performance computing, cloud, artificial intelligence, machine learning, and advanced visualization are prime levers that operators will use to not only unlock new insights into complex geology but also reduce cycle times from exploration to production.Frost & Sullivan thinks that the next 10 years will be the most transformational period in the history of seismic technologies. Even as decarbonization takes center stage and governments restrict the flow of CAPEX dollars to fund new O&G exploration projects, operating companies are no longer willing to tolerate inaccuracies in seismic surveys, as ’dry hole’ scenarios are unacceptable. Seismic technologies will serve as critical drivers that improve cost efficiency and reduce the break-even cost for all wells. This study is focused on investigating the different approaches that exploration and production (E&P) operators take to accelerate the digital transformation of geoscience workflows in the context of volatile prices and the subdued demand outlook driven by the global decarbonization agenda. Even as E&P companies prioritize capital discipline over production growth, the deployment of enabling technologies in all phases of exploration, through to production and repurposing of end-of-life assets, can help achieve the right balance between well costs and well productivity even in a low-price environment as experienced during the last 7 years.Seismic data acquisition providers face the challenge of acquiring and delivering high-quality data at a lower cost and with near-zero environmental impact. Wireless MEMS sensors for miniaturized receivers, source miniaturization strategies, such as the hand-held portable devices, and vibratory sources that work on the piezoelectric oscillation principle are being explored. Cable-free nodal acquisition systems are evolving with new capabilities in real-time quality control and communication through wireless networks. The rising importance of quality and speed of decision-making has led to strong collaboration and partnerships between all stakeholders in the value chain as they work to transition subsurface engineering design, planning, and execution steps from application-driven workflows to data-driven workflows. Three priorities have been identified to enable this transformation: elimination of data compartmentalization, deployment of machine-readable detailed operating procedures, and automation of drilling experience capture and post-drill reporting. These technology-focused innovation priorities have driven the need for software tools and algorithms that promote cross-domain integration, real-time optimization of geological models, and drilling plans. However, the biggest challenge is the fact that subsurface data and workflows are visually intensive and big. With the size of seismic data growing exponentially, operators are moving high-performance computing workloads to the cloud and have developed innovative data compression methods, such as automated wave-let data compression and hybrid-lossless compression algorithms, to reduce the volume of data transferred and improve seismic data communication speed.Integration of surface and borehole seismic methods to draw new high-quality insights that enhance the understanding of formation is a key application area for high-performance computing and advanced machine learning algorithms. At-bit seismic and vertical seismic profiling (VSP) enables real-time well trajectory optimization during drilling, thereby reducing dry-hole scenarios. The key technology development aspects covered in this study include,1.Initiatives by upstream industry stakeholders to stay relevant in the rapidly evolving digital technology landscape2.Major trends transforming seismic data processing workflows3.Key companies to watch in the seismic technology landscape4.Fundamental shifts in the way seismic data is acquired, moved, and processed5.Top technology-enabled growth opportunities for stakeholders
Read the full report: https://www.reportlinker.com/p06218429/?utm_source=GNW

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