Landmark & Statoil to Develop $13 Million Exploration System
Landmark, a brand of Halliburton's Digital and Consulting Solutions division, and Statoil have signed a project development agreement to jointly create a geoscience interpretation software system for Statoil's ambitious basin- and prospect-scale exploration activities. Statoil and Landmark will each contribute approximately $6.5 million to the three-year, $13 million project.
The resulting system will enable Statoil to effectively and precisely evaluate exploration potential in some of the largest study areas ever analyzed by an oil and gas company – a move that supports Statoil's efforts to build a distinctive exploration technology position, resulting in better hydrocarbon prospect portfolios.
"Interpreting geoscience data at the basin scale is akin to reaching the exploration promised land," said Doug Meikle, vice president, Landmark. "By collaborating with Statoil, we have a strategic ally that can bring our most advanced exploration technology to the industry's forefront."
Margareth Ovrum, Statoil's executive vice president for technology and projects, echoes this sentiment: "Our ability to interpret exploration data faster and smarter will be a huge competitive enabler for Statoil. Teaming up with Landmark will speed up our access to critical software that supports this advantage, while providing us with powerful solutions to facilitate our integrated work processes."
The two companies expect to combine several key technology components when architecting the system. These include: basin modeling, seismic processing and modeling, seismic prestack analysis, and stratigraphic modeling – along with a comprehensive visualization and data management upgrade.
The work may also lead to several new exploration workflows, including those for basin architecture and basin fill, as well as standardized-mapping workflows for 'yet-to-find' and 'sweet-spot' reserves.
To overcome the project's technical challenges, Landmark will build the system using its DecisionSpace® digital framework. DecisionSpace allows E&P companies to integrate their software functions across multiple disciplines. The environment is a dramatic improvement over conventional software frameworks because it can run a variety of applications and databases side-by-side, while also powering high-performance applications like Landmark's GeoProbe®, PowerView® and Well Seismic Fusion™ products.
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