Workflow Optimization to Deliver State-of-the-Art Seismic DataWed, 01/21/2015 - 09:15
Q: In what ways does Geoprocesados aspire to support new market entrants in the coming years?
A: We are differentiated by our broad experience with working across the Mexican territory, where we have been implementing projects for over 20 years in all sorts of geologies. This allows us to properly recommend technologies that will result in enhanced efficiency for players coming to Mexico. The solutions we offer include technologies which reduce uncertainty, and allow companies to obtain better results with lower investments and risk. Our recommendations always tackle Mexican specifics, including the geology of the area or block being explored as well as the customer’s profile and its objectives. On top of that, Geoprocesados conducts a complete analysis of the available data and advises the customer on what can and cannot be done with it. When companies have legacy data, which is old or outdated and does not have the necessary characteristics to carry out state-of-the-art studies, we advise on the usefulness of the data and then recommend a solution.
Q: How will Geoprocesados secure new business from PEMEX and incoming operators alike?
A: Operators coming to work in shallow waters will require state-of-the-art seismic data, and Geoprocesados can assist them with data collection and processing, as well as the generation of seismic studies. In deepwater, Geoprocesados has the experience of having been involved in projects from the design of data collection, data processing, and prediction of pore pressure in wells that have been drilled. Since PEMEX started deepwater operations, Geoprocesados has worked with the NOC within our scope of services. We engaged in the initial analysis for 2D seismic and then performed the studies to design 3D seismic. We performed gravimetric and seismic studies to map the salt in parts of the Gulf of Mexico and to help PEMEX define its preliminary targets. Geoprocesados has performed seismic processing as well as attribute studies and velocity studies for geopressure, all of them in deepwater. We are comfortable offering this experience to help new operators.
Q: What relationships does Geoprocesados maintain with technology providers to ensure it offers the best available solutions?
A: Geoprocesados is a service provider and workflow integrator. We are not technology developers, so we seek partners that have highly recognized technologies and then apply these to our workflows in Mexico. Our partners include Paradigm Geophysical, Terraces, and Polarcus. Terraces’ technology, for example, allows us to integrate electromagnetic gravimetric information with seismic data in order to generate more refined models of the subsoil. Traditionally, our greatest strength lies in land projects with integrated interpretation and characterization. We are comfortable working with land seismic processing as we possess technological solutions that can be applied very well in the onshore environment. Furthermore, global trends show that wide azimuth seismic acquisition will have to be done on a larger scale in shallow water and deepwater to provide better images and greater information on the subsoil. These technologies will be deployed on a large scale in Mexico.
Q: How does the possibility of performing multi-client projects change Geoprocesados’ perspective regarding new projects?
A: Multi-client is an interesting new niche. As a longstanding partner of PEMEX, Geoprocesados first seeks to align itself with PEMEX’s multi-client strategy, as we do not want to engage in projects that PEMEX is not interested in. In this sense, we are selecting areas that CNH might put up for tender in future licensing rounds. Geoprocesados will participate in multi-client projects in line with CNH’s regulation on the matter.
Q: What are your priorities for the rest of 2015?
A: It will definitely be a very difficult year as Geoprocesados had to revise its budget as a result of the radical change in the landscape. The oil price drop deeply impacted us since we also have operations in the US and in Europe. Our objective was to generate studies for unconventionals but that was completely stopped. In spite of this, Geoprocesados still sees opportunities since the studies we provide are among the lowest cost alternatives in our industry. Performing studies during this time of low activity will enable companies to be prepared to identify new locations, to drill, and to start a swifter reincorporation into the market once prices improve.