By DARA BUTTERFIELD
Oil and gas companies have funded two significant joint industry projects through the Industry Technology Facilitator (ITF), the full details of which will be announced at the Technology Showcase conference and exhibition in Aberdeen later today.
The Fullwave Game Changer research project has been extended for a further phase with a consortium of 15 major oil and gas operator and service companies working in collaboration with Imperial College London. The phase II investment of more than £2.5 million brings the total funding over the last nine years to £7.5 million.
Fullwave Gamechanger Phase II aims to deliver a major advance in seismic imaging leading to enhanced prospect evaluation and reservoir exploitation. The new phase builds on the work carried out on the technique of full-wavefield inversion, a method for seismic depth imaging which helps to more accurately ‘map’ the presence of hydrocarbons.
Professor Mike Warner, Project Director, said: “The launch of the Phase II work is vindication of the significant strides that our team has made in the application of advanced seismic analysis to transform the subsurface imaging capability for the industry.
“Project participants are bringing our technology in-house for their own reservoirs, and our seismic survey company participants are offering the technology for commercial use in the industry. Some of our oil company participants can already pinpoint significant capital savings on field appraisal projects through avoiding unnecessary and expensive drilling expenditure by using our technology to better target hydrocarbons in their reservoirs.”
ITF members have also funded a new £1.9 million joint industry project to improve tropical cyclone forecasting in Northern Australia to mitigate costly disruptions to operations. ITF has led the collaboration to secure funding for the two-year project which will be carried out by the Australian Bureau of Meteorology. It is the highest funded Phase 1 joint industry project that ITF has launched to date.
Four major oil and gas operators with operations in Australia will jointly fund the development of new systems to improve tropical cyclone prediction which could deliver significant cost savings and safety impacts, decreasing drilling and operational down time and interruptions to construction operations.
Dr Peter May, Head of Research, said: “This joint industry research project will provide tangible benefits for the oil and gas industry and will eventually be built into ongoing improvements in public weather forecasting for the community.
“Forecast accuracy continues to improve through investment in access to high volumes of accurate, real-time weather data. Supercomputing capabilities can now analyse this data and run high resolution forecasting models, which will critically deliver new research initiatives to improve forecasting models.”
Dr Patrick O’Brien, Chief Executive, ITF, said: “The two new joint industry projects with Imperial College London and the Australian Bureau of Meteorology are prime examples of effective collaboration by the industry to propel solutions to costly challenges. By sharing the costs associated with new technologies the industry can work together to maximise production and reduce risks, which is crucial in the current climate.”