The 78th Annual EAGE Exposition is held this year in the Reed Messe Wien in Vienna, Austria. This year sees an extensive programme, aimed to provide a broader range of knowledge in the fields of Geophysics, Geology, Reservoir Engineering, Petroleum Engineering and Near Surface Exploration, amongst other topics of study.
The oil and gas industry is being kept on its toes currently, due to the oil price drop. In this uncertain price climate questions are being asked whether investment in the technical improvement, through learning and training of staff, including attending conferences such as this, can be justified. The answer is simple. Irrespective of the oil price, should it be $10 or $100, the industry requires educated and trained specialists and experts to discover, develop and produce oil and gas! To that end the conference’s motto of “Efficient use of technology – unlocking potential”, certainly is aimed in that direction.
The technical programme highlights several important topics for the industry and aims to open these up for debate. Issues surrounding cost pressure, the hiring freeze and skewed age distribution are on the agenda, amongst others such as aging production, difficult reservoirs, ultra-deep water exploration, and the significance of these issues on the next generation of young professionals.
It is evident that several of the issues that the industry is currently facing relate to depth uncertainty. At this year’s EAGE, our focus will be discussing how we can address this topic, utilising a number of functions of our software. Of key importance is the Monte Carlo Multiple Realisation capability of Velit, whereby geoscientists can assess the parametric variation and the lateral uncertainty around a best technical case model. We add confidence by producing a range of simulations that can all be instantiated giving the P10/P50/P90 range, the proximity of your best technical case vs the P50 model, probability of closure maps, and a sensitivity analysis tool, to further refine your study and make a strong technical case.
If you are attending the conference and interested in scheduling a demonstration of our depth conversion software or seismic inversion software, or both, then please contact us on sales@equipoisesoftware.com