Brent: an Aging Giant

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Brent: an Aging Giant VOL. 14, NO. 2 – 2017 GEOSCIENCE & TECHNOLOGY EXPLAINED geoexpro.com GEO PHYSICS: Vietnam: Imaging Fractured GIANT FIELDS Basement Brent: An Aging Giant GEO EDUCATION Hunting for NULFs TECHNOLOGY EXPLAINED Is there a ‘G’ in Decommissioning? RECENT ADVANCES IN TECHNOLOGY Time-Lapse Seismic and Geomechanics Dive into the Detail Explore regional structures, uncover new leads and develop prospects with these unifi ed 3D GeoStreamer® depth datasets. We have tailored the most advanced imaging workfl ows to create an exceptional product that o ers both precision and perspective. Visit our website to fi nd out more about GeoStreamer PURE. Norwegian Sea Viking Graben Central Graben Barents Sea A Clearer Image | www.pgs.com/PURE Previous issues: www.geoexpro.com Contents Vol. 14 No. 2 This edition of GEO ExPro magazine focuses on Asia-Pacific; Reservoir GEOSCIENCE & TECHNOLOGY EXPLAINED Management; and Decommissioning. 5 Editorial y Exceed Geology is as important at 6 Regional Update the end of a well’s life as it was during exploration. 8 Licensing Update 10 M&A Update 12 A Minute to Read 16 Cover Story: Giant Fields: @ Brent – An Aging Giant Francis Gugen believes the transfer to renewable sources of energy is coming 22 GEO Physics: quicker than we think. Vietnam: Improved Images of Fractured Basement 26 Technology Explained: Spectrum Is There a ‘G’ in Decommissioning? W 30 GEO Education: Shallow water oil in North Gabon. Hunting for NULFs 36 Seismic Foldout: Australia – New Imaging of the Vulcan Sub-basin R 42 GEO Profile: Mr. Rickett – a tantalizing glimpse Francis Gugen – Advocate into behind-the-scenes struggles for for Change the control of oil. 46 Recent Advances in Technology: Time-Lapse Seismic and Illustrated London News London Illustrated Mary Evans Geomechanics P 50 GEO Media: Petroleum Geology of Libya The Kimberley National Landscape of Western 52 Exploration: Australia – a wonderful wild wilderness waiting for you. The Angle of the North Mark Tomkins 54 History of Oil: The Mysterious Mr Rickett 60 GEO Tourism: K K A Wonderful Wild Wilderness y^ @w 66 History of Oil: e e Advancing Geoscience in 8 ) South East Asia K R s 68 Exploration Update 6 W H 70 Q&A : Decommissioning n P in the North Sea 72 Global Resource Management GEOExPro April 2017 3 See better. Know better. Get better. Even though budgets continue to stay significant fields and reservoirs so you tight, success with your prospects is still can get ideas of what will or won’t work expected. DAKS™ IQ can help because with yours. with DAKS IQ you can see better, know better, and get better. In short, with DAKS IQ you can quickly and easily get knowledge to help DAKS IQ is an analogs-based knowledge, you optimize recovery, validate your reporting, and benchmarking platform decisions, and improve overall financial that provides best practices and performance across the entire E&P lessons learned from more than 1,500 life cycle. With DAKS IQ you get better of the world’s most important fields and bottom-line results. reservoirs. Covering over 500 geological and engineering parameters, DAKS IQ To learn more about DAKS IQ, visit us empowers you with cost-effective, critical online at ccreservoirs.com/daksiq. You’ll be glad you did. insight on what’s already worked on TM ccreservoirs.com Editorial Expect the Unexpected GEOSCIENCE & TECHNOLOGY EXPLAINED Ever since M. King Hubbert first outlined www.geoexpro.com his peak oil theory, suggesting that the rate of petroleum production tends GeoPublishing Ltd to follow a bell-shaped curve, it has 15 Palace Place Mansion been the source of much debate. Even Kensington Court though US Lower 48 states annual oil London W8 5BB, UK production did indeed peak in 1970, as +44 20 7937 2224 he had predicted, the anticipated steady Managing Director and inevitable decline has not followed, Tore Karlsson having been abruptly reversed in recent years by the rapid increase in production Editor in Chief as a result of exploiting unconventional Jane Whaley resources. Broad estimations about the [email protected] industry’s future always have a high US Lower 48 states oil production (green) compared to Editorial enquiries Hubbert’s prediction (red). chance of being proved wrong, because it GeoPublishing is almost impossible to second guess the Jane Whaley technological, political and societal changes that feed into a topic of such global significance as +44 7812 137161 energy supply. [email protected] In recent years, however, the discussion has migrated to the topic of peak oil demand, rather www.geoexpro.com than production. The conversation had been about finding sufficient resources to supply an ever- Marketing Director increasing population, coupled with rapid economic and technological developments in Asia. A Kirsti Karlsson world falling out of love with fossil fuels, the growth of alternative, renewable sources of energy +44 79 0991 5513 and concerns over carbon emissions are all issues which were not considered when production [email protected] was the primary concern. Predicting peak oil demand is proving as contentious as foretelling peak oil production. Statoil believes that demand will start slowing between the mid-2020s and late 2030s, while Ben van Beurden, CEO of global giant Shell, said at the recent IHS CeraWeek that we should See better. Know be ready for oil (though not gas) demand to peak between 2025 and 2030, and that “the most difficult challenge… is to have a meaningful discussion with the public on energy transition. The discussion is not rational, it is emotional.” Not everyone agrees with this forecast. The CEO of Chevron is cited as saying that the idea of peak demand is merely “wishful thinking”, and the International Energy Agency recently said that lack of new investment means that oil supply better. Get better. could struggle to keep pace with demand after 2020. Predicting the future of oil is a difficult and controversial game and Even though budgets continue to stay significant fields and reservoirs so you many experts have been caught out in the past, ever since David White, Subscription tight, success with your prospects is still can get ideas of what will or won’t work chief geologist of the US Geological Survey, forecasted that the peak of US GeoPublishing Ltd expected. DAKS™ IQ can help because with yours. petroleum production would soon be passed, possibly within three years. +44 20 7937 2224 with DAKS IQ you can see better, know That was in 1919. 15 Palace Place Mansion In short, with DAKS IQ you can quickly Kensington Court better, and get better. London W8 5BB, UK and easily get knowledge to help [email protected] DAKS IQ is an analogs-based knowledge, you optimize recovery, validate your VOL. 14, NO. 2 – 2017 Jane Whaley GEO EXPro is pub lished bimonthly Editor in Chief GEOSCIENCE & TECHNOLOGY EXPLAINED reporting, and benchmarking platform decisions, and improve overall financial geoexpro.com for a base subscrip tion rate of GBP GIANT FIELDS GEO PHYSICS: Vietnam: Imaging Fractured 60 a year (6 issues). that provides best practices and performance across the entire E&P Basement Brent: We encourage readers to alert us An Aging Giant lessons learned from more than 1,500 life cycle. With DAKS IQ you get better to news for possible publication of the world’s most important fields and bottom-line results. Gravity base structures, such as those supporting the Brent Bravo and to submit articles for publication. platform, are among the biggest and most impressive feats of reservoirs. Covering over 500 geological engineering in the oil and gas industry. Designed to withstand the GEO EDUCATION Cover Photograph: To learn more about DAKS IQ, visit us Hunting for NULFs and engineering parameters, DAKS IQ rigors of the stormy North Sea, they were constructed of thick concrete TECHNOLOGY EXPLAINED Main: Shell plc Is there a ‘G’ in empowers you with cost-effective, critical online at ccreservoirs.com/daksiq. reinforced with steel bars. Having produced nearly 4 Bboe over 40 Decommissioning? Inset: Alan64/Dreamstime.com years, the Brent field is now the location of one of the first major RECENT ADVANCES IN You’ll be glad you did. TECHNOLOGY insight on what’s already worked on decommissioning projects in the world. Time Lapse Seismic and Geomechanics Layout: Winslade Graphics Inset: Results from Vietnam’s first ocean bottom seismic survey Print: Stephens & George, UK demonstrate that higher density full azimuth seabed data can be used to TM enhance our understanding of fractured basement reservoirs. issn 1744-8743 © 2017 GeoPublishing Limited. Copyright or similar rights in all material in this publication, including graphics and other media, is owned by GeoPublishing Limited, unless otherwise stated. You are allowed to print extracts for your personal use only. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means electronic, mechanical, photographic, recorded or otherwise without the prior written permission of GeoPublishing Limited. Requests to republish material from this publication for distribution should be sent to the Editor in Chief. GeoPublishing Limited does not guarantee the accuracy of the information contained in this publication nor does it accept responsibility for errors or omissions or their consequences. Opinions expressed by contributors to this publication are not necessarily those of GeoPublishing Limited. ccreservoirs.com GEOExPro April 2017 5 Regional Update Asia-Pacific: ABBREVIATIONS Numbers Decline in Drilling (US and scientific community) M: thousand = 1 x 103 The resurgence of offshore exploration in the MM: million = 1 x 106 Asia-Pacific region is dependent on more acreage. B: billion = 1 x 109 T: trillion = 1 x 1012 Since the peak year of 2011, offshore exploration activity, measured as the number of exploration wells drilled, in the Asia-Pacific region has dropped by more than Liquids 40%.
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