The 2nd Annual SEG, AAPG and SEPM joint exposition is held this year at the George R Brown Convention Centre, in downtown Houston, Texas and runs from the 28th of August to the 1st of September 2022. The conference programme represents the second time the Society of Exploration Geophysics, the American Association of Petroleum Geologists and the Society for Sedimentary Geology have come together to put on this exhibition. These three typically high-profile conferences have had their attendance figures decimated by both Covid and the Energy Transition and it is perhaps an indication of the state of flux the industry now finds itself in, with the societies agreeing to hold this integrated annual meeting over the next four years.
IMAGE 2022 represents the forum where industry professionals, geoscientists, energy specialists and thought leaders can engage with one another to shape the future of applied geosciences and energy. Best practices can be shared, with new solutions and new perspectives offering new strategies to overcome the challenges posed by Climate Change and the Energy Transition.
The technical programme centres around over 700 technical presentations, while new exhibition pavilions feature addition content for near-surface, digitalization, carbon management and recent global energy opportunities. For the first time, new strategic panel sessions will showcase C-Suite executives sharing their business perspectives and their organisational strategies. There will also be 17 postconvention workshops that touch on Artificial Intelligence, Carbon Capture and Storage, and their role in the energy transition, along with 7 short courses, not to mention a field trip, 4 guest tours, luncheons and several special events.
With oil hovering around $100 a barrel, all basins are economically viable to produce hydrocarbons, and it would be expected, when compared with historic trends, that activity across the oil and gas industry should be booming presently. However, there is still a lot of uncertainty surrounding the use of fossil fuels through the energy transition and there has not been a noticeable uptick in exploration activity, usually associated with a high oil price environment.
While it is important for the world to move away from pumping huge volumes of CO2 into the atmosphere, with the burning of fossil fuels significantly responsible for driving climate change, it is currently the case that our global society has moved to consuming more fossil fuels than ever before, despite what governments around the world are pushing as part of the Net Zero agenda. With most oil and gas fields requiring 10 – 15 years to make operational, it is easy to foresee trouble ahead if our global demand for hydrocarbons significantly outpaces global supply. We are currently grappling with an energy crisis brought about by the war in the Ukraine and are seeing first hand, the spiralling consequences of a high oil price. Imagine what could happen to our society if the oil price doubled from today’s value, as a result of not bringing enough new fields online to meet the demand.
The same technologies used by the oil and gas industry for extracting hydrocarbons from the subsurface are coincidentally the same that we require for the placement of wind turbines, geothermal energy and carbon capture and storage projects. Not only is the scientific understanding of the subsurface, in terms of the precise location in depth of specific lithologies, important to meet our climate objectives, but there is a need for companies that are exploring today to not waste their limited exploration funds.
Accuracy in time to depth conversion is therefore hugely significant, especially as we expand our efforts toward more greener disciplines, and explore more geologically complex areas, where velocity model sensitivity becomes highly crucial for robust prediction of depth.
Now that IHS Markit and S&P Global have concluded their merger, we will be at IMAGE on the S&P/IHS Global booth #1122, where We will be demonstrating the recent developments in Kingdom VelPAK and Velit for Petrel and discussing how our toolset can achieve the accuracy you need in depth.
We will also be discussing our upcoming roadmap for our Pre-Stack Inversion module that will feature as part of the 2022 release of Kingdom Seismic Inversion, including our new cascaded Extended Elastic Impedance Inversion.
If you would like to come and see how we can help you make the right decisions in depth and see the results for yourself, then you can contact us to arrange a private demonstration at sales@equipoisesoftware.com
We look forward to seeing you there!