Experts emphasise new data, models in oil exploration, investment

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Stakeholders in the petroleum exploration industry have reiterated the need to harness opportunities offered by new data and modelling techniques in making key investment and well drilling decisions. Nigeria OilExploration

According to them, access to data, either seismic, facies or spatial, helps geologists make better informed decisions in assessing a well or location for development.

In parallel, data quality and quantity were increasing, whether seismic or well-related, and it is necessary to provide techniques allowing their integration in the models. He explained that while reservoir models are akin to weather forecasts used for production forecasts, build development schemes and make investment/divestment decisions; to achieve this model, a lot of considerations are checked through the seismic data and history matching. Uncertainties are equally accounted for by balancing the risks and benefits of investments.

He also urged geoscientists to avoid volume bias as different proportions of facies impact volumes, while highlighting the need to convert naturalist information to numerical format, geological spatial organisation.

 

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