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In Reverse Time Migration incorporating Tilted Transverse Isotropy, known as TTI RTM, CGGVeritas has developed the algorithm of choice for wide azimuth. Its use in general production worldwide on narrow- and wide-azimuth data is providing considerable uplift in sub-salt imaging.

Wide-azimuth and multi-azimuth acquisition has highlighted the need for TTI algorithms in complex areas, as the greater range of azimuths available has shown TTI effects that were not apparent in narrow-azimuth data. Common Image Gathers (CIGs) with different azimuths in these areas cannot be flattened using a single isotropic, or VTI anisotropic, velocity model. Only a TTI model can flatten all the CIGs regardless of azimuth, with the resulting velocity models tending to produce more geologically viable sub-salt structures.

So as wide-azimuth data provides more reliable TTI parameters, TTI RTM is able to produce truly spectacular results. In particular the technique provides excellent focusing, illumination and positioning, with more accurate depth and amplitude control beneath and around complex salt bodies.

The superior sub-salt imaging provided by wide-azimuth acquisition, true 3D processing and TTI imaging has been well demonstrated in the Gulf of Mexico. CGGVeritas has acquired multi-client and proprietary data over several hundred Gulf of Mexico lease blocks using wide-azimuth techniques. The Walker Ridge data library survey alone covers some 460 lease blocks. Several of the recent major discoveries in the Gulf of Mexico, such as Jack and Julia, Tonga, Heidelberg and BP's new elephant, Tiber, are covered by these surveys, which provide vastly superior images of the sub-salt structures than those previously available. Increasing amounts of this and proprietary data are being processed through TTI RTM, providing still further improvement.

In collaboration with BP, CGGVeritas has studied in detail the effects of the various rapidly developing depth imaging algorithms on the Puma and Mad Dog fields in the Green Canyon area of the Gulf of Mexico (Bowling et al 2009*). Isotropic, VTI and TTI imaging were carried out sequentially for wide-azimuth towed-streamer data. This offered an excellent opportunity to understand the impact of different levels of anisotropy approximation, and why TTI RTM should be used for future wide-azimuth imaging.

Other TTI anisotropy and imaging studies in the Gulf of Mexico confirm these findings, such as the one performed for the Tonga field (T Huang et al 2009*).

TTI RTM provides similar improvements in imaging elsewhere. Although it is more difficult to directly derive the anisotropy parameters, TTI RTM still has an impact on the imaging of narrow-azimuth surveys. Its current testing (Y Huang et al 2009*) in the Santos Basin, offshore Brazil, after initial reprocessing with isotropic RTM, is producing promising results, despite the lack of publicly available well information in the area.

Ignoring the anisotropic effects in this area can incorrectly position salt flanks and distort the base of salt and pre-salt structures. Furthermore, the dip angles of some deep basins can reach more than 50 degrees. With such highly-dipping bedding, vertical transverse isotropy is significantly inaccurate.

The use of TTI RTM has also significantly improved the focusing and positioning of data from West Africa and the North Sea, and it is expected to be of benefit anywhere where imaging is required beneath dipping sedimentary layers. With the spread of wide-azimuth acquisition, the requirement for TTI RTM will also increase, in order to reap the full benefit of these datasets.

TTI RTM is part of the range of advanced imaging and true 3D wide-azimuth processing algorithms pioneered by CGGVeritas. These technologies, along with many others, are a key part of geovation, the unified CGGVeritas seismic processing & imaging platform.

geovation is a significant consolidation of seismic data processing technology for CGGVeritas. It will be the industry reference in terms of geophysical technology, advanced interactive features and efficient processing of ever increasing wide-azimuth data volumes.

Advanced imaging, including TTI RTM, remains a research priority for CGGVeritas, with particular emphasis on the derivation of TTI parameters from wide-azimuth data, and extending full wavefield inversion for TTI media.

Find out more about our new developments in imaging at the CGGVeritas booth, at our presentations in the SEG technical sessions(*) or at www.cggveritas.com.


Inclusion of TTI anisotropic effects from wide-azimuth information greatly improves the imaging of complex structures wherever dipping sediments are present. Subsalt images beneath the mini-basins are more coherent and focused on TTI RTM results than those from VTI RTM. (Data courtesy of CGGVeritas multi-client library). posted by The Rogtec Team @ 11:02  0 Comments

Vallourec, world leader in the production of seamless steel tubes, today announced that its fully-owned subsidiary VAM Drilling has reached an agreement regarding the acquisition of Dubai-based DPAL FZCO, a well established supplier of drill pipes, owned by Soconord Group.

The DPAL FZCO manufacturing facility located in the Jebel Ali Free Zone (Dubai, UAE), offers a large range of drill pipes to the oil drilling industry in the Middle East, where it enjoys an excellent service reputation. It has an annual production capacity of 25,000 joints.

The Middle East represents an important market for drilling products with growing requirements for premium products. This acquisition will strengthen the presence of VAM Drilling in the Middle East, providing local manufacturing for its major international customers operating throughout the region and to local National Oil and Drilling Companies. VAM Drilling will complement DPAL FZCO's existing offer with premium products and extended services.

Philippe Crouzet, Chairman of Vallourec Management Board, stated: "The acquisition of DPAL FZCO is a perfect example of our strategy of targeted acquisitions to strengthen our position in growing markets, especially in high value-added segments of the oil industry such as drilling products. It also provides us with an industrial foothold in the Middle East, close to our clients, in a region which is very important to us."

The agreement is subject to regulatory approval and the closing of the deal is expected to take place shortly.

Labels: DPAL FZCO, middle east drilling, Vallourec

posted by The Rogtec Team @ 14:21  0 Comments

William F. Venn CEng, FIChemE, is a Principal Consultant and Technical Safety and Risk Assessment Engineer with EPConsult. He has a BSc (Hons) in Chemical Engineering and over 30 years experience in oil and gas in the UK and overseas. He has worked for British Petroleum and Aker Kvaerner before joining EPConsult. He was a member of the EU sponsored Tyumen Task Force as environmentalist / facilities engineer and participated in site surveys and scoping model developments in Western Siberia in 1993. His experience has developed to include economic assessment, HS&E in design, chairing HAZID and HAZOP workshops, including recently for a major refinery, and interfacing with the regulator and verification bodies. He has operating and design engineering experience in the North Sea, Arctic, Atlantic Margin and UK Land and has completed a range of risk assessment and facilities engineering studies including in fine chemicals, a metal refinery and rail.

How long have you been doing business in the region?
I was involved with TTF in Western Siberia in 1993, and as a production and then process engineer was involved full time in oilfield development and operations in the arctic between 1978 and 1985. I became involved with the Shtokman project with EPConsult in 2008.

EPConsult has been doing business in the Region since 2003, when we completed two risk assessment studies:
Quantitative Risk Analysis of Shipping Hazards to the nearshore sections of oil, gas and condensate pipelines in Sangachal Bay in the Caspian Sea; and a risk assessment for the deferral of hydrotesting for the Sakhalin II development project.

We became involved in the Shtokman Gas - Condensate Field - Phase 1; where we successfully completed the HS&E Engineering and Risk Assessment scope for FEED.

In 2008, we prepared sections of the HS&E Management System for an E&P Company in Ukraine. We also completed some QRA studies and a programme of Hazard and Operability Studies for gas field facilities including the wellhead, well pad manifolding, central processing facilities, product storage and tanker truck loading facilities. This work involved new developments as well as a significant brownfield and tie-in scope.

Do you have a specific target markets in the region?
Yes, we feel that EPConsult can participate effectively in the markets in the Region through providing hazard management, risk assessment and facility and value engineering studies for oil and gas projects. We feel we have the breadth and depth of experience to provide meaningful and useful studies for Russia's climate and geography. We can provide this expertise in the onshore and offshore market place as well as for development in the taiga and tundra environment.

What are your key products for the region and their benefits?
Overall, our study methodologies are geared towards helping in the success of a client's project. Our tools comprise in-house and commercial software.

Our key products are risk assessment studies, interactive safety study workshops and reliability and maintainability studies. We also conduct value engineering workshops, development studies and operation optimisation studies.

The key benefit of the risk assessment studies and the safety reviews is that the operator and project personnel become aware of and can take ownership of the potential major accident hazards in the project and of the actions required to keep them in check.

It can also be that the project is not accepted by the regulator for development unless the risk assessment and environmental impact assessment scope is shown to be comprehensive and robust.

Value engineering studies enable experienced project personnel to review a project scope and with the guidance of the workshop facilitator to search out value adding practices to the process, to equipment, to procurement and to the construction programme.

EPConsult has developed software for the management of risks: EPRisk; and menu driven software for the preparation of capital cost estimates: EPCostimator. The benefits of this software is that it enables comparisons to be made readily, which is particularly important for evaluating alternative development scenarios.

What potential is there for your products in the market?
Our understanding is that there is a clear potential for our products and know-how in the market.

How do you compare and compete with existing Russian Technology?
We often find that we do compare technologies, particularly in HAZOP Studies and in FMEAs, where we need to understand the failure modes and the effects of a range of process safeguarding technologies. We also need to be aware of differences in the regulatory regime.

For our software products, EPConsult would seek to ensure that our software products can be effective in Russia.

How do you see the market developing over the next 5 years in your industry sector?
We think there is a clear role for risk assessment studies, interactive safety studies and Value Engineering workshops in the challenging environment of onshore and offshore oil and gas developments, both greenfield and brownfield, in Russia. Depending on the development strategy for the Region, we see an expanding and diversified market.

Do you have any new products being launched?
Yes, we are currently upgrading our in-house risk management software EPRisk, and have recently designed and built and tested a CAPEX estimating tool. An add-on programme for projecting OPEX is being scoped.

Do you have any recent regional success stories?
Yes, we have recently completed the HS&E Engineering scope for the Integrated Development of the Shtokman Gas-Condensate Field - Phase 1. The scope includes the facilitation of a HAZID workshop and providing input to the Verification Scheme. We completed a number of risk assessment studies: Onshore trunkline QRA including an assessment of the requirement for a Landfall Isolation Valve; a Study to assess the risks of fishing and shipping to the offshore trunkline, a dropped object study and an emissions dispersion modeling study, which computed and plotted the potential progress of flammable gas clouds from trunkline leak scenarios.

Labels: EPConsult

posted by The Rogtec Team @ 11:40  0 Comments

Reference is made to the notice published 01 September 2009 on the Norwegian OTC trading support system regarding the signature of a conditional Letter of Intent with TGS-NOPEC Geophysical Company ASA (TGS) for the charter of the 12 streamer 3D seismic vessel Polarcus Nadia for approximately 3 months commencing in December 2009.

Polarcus Limited (OAX: PLCS) announced today that further to the referenced notification, TGS-NOPEC Geophysical Company ASA (TGS) has advised the Company that the first phase of this planned program, comprising 2,000 square kilometres of long offset 3D, is now confirmed.

The Right of First Refusal for TGS to extend the charter thereafter in two 6 month increments under pre-agreed commercial terms remains in full force and effect.

TGS has further requested that the charter of Polarcus Nadia should commence as soon as the vessel is ready for operations in December 2009, subject to execution of a Seismic Charter Agreement.

Labels: Polarcus, TGS-NOPEC

posted by The Rogtec Team @ 11:44  0 Comments

Polarcus Limited has today signed a conditional Letter of Intent with TGS-NOPEC Geophysical Company ASA (TGS) for the charter of the 12 streamer 3D seismic vessel Polarcus Nadia for approximately 3 months commencing in December 2009. The Letter of Intent further includes a right of first refusal for TGS to extend the charter in two 6 month increments under pre-agreed commercial terms.

"This is an exciting moment for everyone at Polarcus and a confirmation that our company has come of age," commented Rolf Ronningen, CEO. "We are confident in our operational readiness and look forward to being able to showcase our ability to deliver superior results to both TGS and the industry at large."

Polarcus Nadia is the company's first newbuild 12 streamer 3D seismic vessel and incorporates leading-edge design features that will position her as one of the most advanced seismic vessels in the industry. The vessel's name is derived from the Arabic female name meaning "the beginning, first" and was chosen to signify the successful arrival of the company. Polarcus Nadia is in the final stage of construction at Drydocks World - Dubai in the United Arab Emirates and will mobilize for TGS upon finalization of contract.

Labels: 3D seismic, Polarcus

posted by The Rogtec Team @ 11:41  0 Comments

Polarcus Limited is pleased to announce that the Board of Oslo Bors today resolved to admit shares in Polarcus Limited for listing on Oslo Axess.

Before the first day of trading Polarcus Limited must:

• fulfil the requirement for at least 100 shareholders holding round lot shareholders, as specified in the Listing Rules section 2.4.2
• fulfil the 25 percent share distribution requirement, cf the Listing Rules section 2.4.1
• have entered into a standard listing agreement
• through the planned issue obtain a minimum of MUSD 112 in new equity.

The president and CEO of Oslo Bors is authorized to determine the first day of listing, which shall be no later than 13 November 2009.

Polarcus Limited has through the successful completion of the Initial Public Offering announced earlier today fulfilled the above requirements and intends to list its share at Oslo Axess on 30 September 2009.

Contacts
Rolf Ronningen, CEO Polarcus, +971 4 436 0800 / +971 50 459 6982
Tom Henrik Sundby, CFO Polarcus, +971 4 436 0800 / +971 50 708 6480

Labels: Polarcus

posted by The Rogtec Team @ 15:35  0 Comments

Polarcus Limited ("Polarcus" or the "Company") has successfully completed its Initial Public Offering. The Board of Directors of Polarcus has on Sunday 27 September 2009 resolved to issue 161,388,889 new shares at a price of NOK 4.50. In addition 24,208,111 shares were allotted under the over-allotment facility granted by the Company to ABG Sundal Collier Norge ASA and SEB Enskilda AS. The Initial Public Offering was significantly oversubscribed when the subscription period expired on 25 September 2009 at 17:30 CET. Gross proceeds from the offering of new shares (before over- allotment) amounted to NOK 726,250,000.

Chairman of the Board, Peter Rigg, comments: "We are delighted to have completed such a successful offering. Financial market conditions have been difficult for many months, however our offering of a fleet of modern vessels with unique environmental credentials operated by a proven management team has clearly proved attractive to investors. We are very grateful to them for their support."

The offering is conditional upon the Board of Directors of Oslo Børs ASA approving Polarcus for listing on Oslo Axess. Subject to such approval the shares in Polarcus will be listed on Oslo Axess on or about 30 September 2009. The Polarcus shares will trade on the Oslo Axess under the ticker symbol "PLCS".

Notices regarding allotment will be issued on or about 28 September and the transfer of shares is expected to take place on or about 30 September. The transfer of shares is dependent on the payment conditions as described in the prospectus dated 15 September 2009.

Polarcus will have a total of 263,174,820 shares (prior to the over-allotment facility) after the completion of the offering. This implies a market capitalisation of the Company of approx. NOK 1,200 million after the offering. A wide range of international and Norwegian investors subscribed for shares in the offering and Polarcus will have more than 200 shareholders after the completion of the offering.

In addition, up to 24,208,111 shares were over-allotted pursuant to the over-allotment facility. A separate press release will be issued regarding the over-allotment and stabilization activities.

ABG Sundal Collier Norge ASA and SEB Enskilda AS have acted as Joint Global Coordinators and Bookrunners for the Offering and Listing of Polarcus. In addition, Invest AD - The Abu Dhabi Investment Company acted as Lead Placing Agent. Investors, who have questions to the allotment, may contact ABG Sundal Collier Norge ASA or SEB Enskilda AS.

Labels: Polarcus

posted by The Rogtec Team @ 15:30  0 Comments

On 6-9 October, Almaty will host the 17th Kazakhstan International Oil and Gas Exhibition and Conference KIOGE 2009.

KIOGE is the country's leading industry event in the oil and gas sector. In his welcome letter to KIOGE participants, Sauat Mynbayev, Kazakhstan's Minister of Energy and Mineral Resources, said. "The exhibition has already acquired a status of the largest and most respected event in this industry - not only in Kazakhstan but all over the Central Asian region".

The exhibition and conference bring together the most prominent professionals in the Kazakh oil and gas sector. This enables domestic and international companies to forge partnerships that will help to maximise the efficiency and effectiveness of oil exploration, production and transit in this influential market.

Oil was first found in Kazakhstan 110 years ago and oil now accounts for 15% of the country's GDP. Oil revenues are an important contributor to the development and growth in the economy and provide valuable stability in a difficult global financial environment.

With proven recoverable oil reserves of 4.8 million tons, which corresponds to 3% of total global reserves, Kazakhstan ranks in the world's top ten countries for proven recoverable oil reserves. In the next five to ten years, as oil and gas outputs grow, the role of the oil and gas sector in the national development will undoubtedly increase. At the same time, experts predict a renewal of economic growth worldwide, which, naturally, will lead to increased energy consumption.

In this respect, the role of KIOGE as the country's leading business forum cannot be overstated. The event benefits from the support of Kazakhstan's Ministry of Energy and Mineral Resources, the Almaty City Akimat and the country's national oil company, KazMunayGas. The exhibition will showcase products and services from hundreds of companies from around the world, including some of the best known names in the industry. The conference features high level speakers and delegates who will learn about, and debate some of the most topical issues affecting the industry.

The exhibition and conference form the centrepiece of a week-long schedule of seminars, round-table debates, a job fair, business presentations and a host of networking events including cocktail receptions, gala dinners and a golf day.

KIOGE is organised by ITECA, part of the international trade event organiser, ITE Group. The Head of ITE's International Oil and Gas Division, Graeme Coombes said. "KIOGE is an all encompassing trade event and it offers value to everyone involved in the Kazakh oil and gas sector. The conference, exhibition and other events that run in parallel to KIOGE provide an array of opportunities for learning, relationship building, product promotion and business. It is the region's premier trade event and the dynamic nature of the world's economy and the vital role that the energy sectorplays within it, means that this year's event will be arguably one of the most eagerly anticipated in the event's 16 year history."

Labels: Kazakhstan, KIOGE, Oil and Gas conference

posted by The Rogtec Team @ 10:49  0 Comments