Core Laboratories Signs Technical Development Agreement With PDVSA Intevep

Core Laboratories announced that through its Reservoir Management division, Scott Pickford, it has signed a Technical Development Agreement with PDVSA Intevep, an affiliate of Petroleos de Venezuela, S. A. (PDVSA) to deploy and further develop seismic attribute analysis techniques. Work has already begun in the deployment of PDVSA Intevep's seismic attribute algorithms within Scott Pickford's IC2 seismic attribute analysis software package. PDVSA Intevep chose IC2 as the vehicle to disseminate its proprietary solutions within its organization to provide desktop solutions for enhanced reservoir characterization. The implementation within IC2 will enable PDVSA Intevep to make its developments available to the worldwide oil and gas industry, and the organization is currently working on new innovative ideas with Scott Pickford to further enhance seismic attribute analysis.

IC2 is a seismic and well attribute generation and analysis software package. Attributes can be generated from 2D or 3D seismic data, well logs and synthetic models. Once generated, attributes can be correlated and analyzed by a range of methods which includes multivariate techniques. Attribute analysis will identify any relationship between the well and seismic data, enabling the mapping and prediction of reservoir properties. Being able to predict reservoir properties away from well control provides a better understanding for modeling and optimizing reservoirs.