PGS and BP Form Alliance
Petroleum Geo-Services announced that its Data Processing division, in close cooperation with its Research division, has secured a Geophysical Technology Alliance with BP through the Gulf of Suez Petroleum Company (GUPCO).
This technology alliance is anticipated to generate projects valued at approximately $10 million over a three year period. BP/GUPCO awarded this alliance to PGS after an extensive technology evaluation of the industry. PGS will be established as a preferred technology provider to GUPCO for advanced seismic processing techniques, and jointly, through this alliance, PGS and GUPCO will concentrate initially on advanced pre-stack time and depth imaging and other new technologies for surface related multiple elimination. Future projects may include such technologies as new generation demultiple techniques, survey design, multi-component processing and 4D reservoir surveillance.
PGS and GUPCO senior level personnel agreed to this alliance as a result of their commitment to produce mutually beneficial results that will challenge existing technology. To help promote the technology campaign, PGS will dedicate its Cairo Data Processing office as a base for the implementation of PC cluster computing technology. Additionally, PGS will set up its proprietary visualization system, holoseis(TM), in the center to provide full data processing quality control and integration capabilities in an immersive visualization environment.
"The technologically focused development steered by both PGS and GUPCO will improve project performance, resolve complicated geophysical problems, and substantially increase productivity," said Chris Usher, President of PGS Data Processing. "PGS' award of this alliance provides it with a unique opportunity to work alongside GUPCO in pushing the boundaries of seismic data processing technologies and to establish a high level of excellence for seismic data in this region."
It was also agreed that this alliance will be expanded beyond the boundaries of Egypt to include the Middle East and North Africa, and will encompass land, marine and ocean bottom technologies. The scope of this alliance will allow both GUPCO and BP staff in these regions access to the latest research and development technologies available from PGS Data Processing and PGS Research.
"The dedicated data processing center run by PGS located inside GUPCO's office building will accelerate improvements in some specific seismic technologies that are absolutely critical to us," said Brian Barley, Geophysics General Manager for GUPCO. "Just as important, we will be able to apply these technologies quickly and affordably to large volumes of seismic, under strict quality control measures and in close collaboration between data processors and interpreters. PGS won this tender because of its highly competitive mix of strong technological developments, low unit costs and exceptional track record for responsiveness and delivery to us. We expect to transform our success rates in the Gulf of Suez."