In the late 1980s, the oil and gas industry embarked on a journey that now, in retrospect, seems almost too simple: transition from paper processes to data-driven computer
Landmark’s R5000 release will open the door to cutting-edge data-management techniques for seismic projects. This will enhance high-performance geoscience interpretation workflows — leading to high-definition subsurface imaging and accuracy. (Images courtesy of Landmark) |
As we head into the new century we are seeing the next generation of data-driven products come on the market. One of these is Landmark’s R5000. This is a synchronous release of almost 80 software applications, along with a new release of the OpenWorks database. The products are unique because many of them can access the common DecisionSpace environment, which is capable of running software applications side-by-side — along with a customer’s proprietary applications and other vendors’ applications. This is a true cross-disciplinary workflow built on openness and integration.
The products, which Landmark will release in late 2007 and throughout the first half of 2008, will feature a common look and feel that makes them easy to use in cross-functional workflows. The software rollout will be the most comprehensive and fully integrated software release the company’s 25-year history.
The database is designed to tie together many elements of the asset — a move that eliminates data redundancy and improves data quality. As a result, users can work more productively across generational applications and within enhanced-security measures.
Take offshore operations in an area like the Gulf of Mexico, for example. There companies routinely create multiple small projects for a single region. The result is often rampant data duplication along with large datasets and poor software performance, not to mention serious data-management headaches. Why? Because the old project-team model does not synch with today’s data growth and usage trends. The bottom line is that E&P professionals simply aren’t organized in self-contained teams any longer. They are now part of broader asset teams, and they must work in concert with other project teams, using the exact same data as they do.
With the new version of the database, a new project-data management concept is being introduced called an “interpretation project.” An interpretation project is simply a view into a project database; it looks like a simple project database to each individual geoscience application, but it is really a set of data views customized to the requirements of the asset team.
Multiple interpretation projects can access data from a single project database without data duplication. This means asset teams can share well logs and similar types of data dynamically as opposed to doing so via a copy. If users update data in one interpretation project, they also update the entire database. Moreover, any other interpretation project that uses that data will see the change. This will be of particular interest to data managers and information technology departments since it will reduce data duplication and improve the quality of output from the project team.
Plus, in an interpretation project, asset teams can share well logs and similar types of data dynamically as opposed to doing so via a copy.
The new version of the database will also enable asset teams to incorporate prestack
Many of the R5000 products can access the common DecisionSpace environment. |
The company is going to support an entire range of products — old, new, proprietary and non-proprietary. It’s all about continuity and integration. It’s also offering implementation services, forums and training supporting the entire product roll out.
Software beta customers have already taken advantage of the deployment to re-think and overhaul their data-management strategies, optimizing them for improved exploration and discovery in coming years. Landmark has even set up an online knowledge-management community for these and other customers to collaboratively develop best practices and share their experiences.
The new products will enable companies to work differently while better managing data of known quality. Plus, they can manage their data logically, which may sound trivial to the average person but is very significant to the geoscientist, who can now do things like put a “top” into the database and have someone else see it immediately.
Some customers have already enjoyed an early taste of these benefits because the company included a preview of its software capabilities in several product updates it released earlier this year. With the formal software deployment, these customers will be able to seamlessly enjoy the full benefits of the release — benefits that will take team-oriented work and turn it into asset-oriented work like enabling more effective interpretation or better field development. They will also enjoy improved reservoir-simulation integration and more accurate well-path planning for complex field-development scenarios.
Taking an asset-level perspective of the world is critical as the E&P industry heads into the 21st century. That’s where the new products come in. It’s been a long haul toward true data integration, and now we are closer than ever.
Recommended Reading
ConocoPhillips CEO Ryan Lance: Upstream M&A Wave ‘Not Done’ Yet
2024-03-19 - Dealmaking in the upstream oil and gas industry totaled $234 billion in 2023. The trend shows no signs of slowing, ConocoPhillips CEO Ryan Lance said at the CERAWeek by S&P Global conference.
Ithaca Energy to Buy Eni's UK Assets in $938MM North Sea Deal
2024-04-23 - Eni, one of Italy's biggest energy companies, will transfer its U.K. business in exchange for 38.5% of Ithaca's share capital, while the existing Ithaca Energy shareholders will own the remaining 61.5% of the combined group.
Triangle Energy, JV Set to Drill in North Perth Basin
2024-04-18 - The Booth-1 prospect is planned to be the first well in the joint venture’s —Triangle Energy, Strike Energy and New Zealand Oil and Gas — upcoming drilling campaign.
EIG’s MidOcean Closes Purchase of 20% Stake in Peru LNG
2024-04-23 - MidOcean Energy’s deal for SK Earthon’s Peru LNG follows a March deal to purchase Tokyo Gas’ LNG interests in Australia.
Equinor Acquires Stake in Standard Lithium Smackover Projects
2024-05-08 - Equinor’s transaction, completed effective May 7, includes interests in Standard Lithium’s flagship South West Arkansas Project and East Texas properties.