Valuation of Marine Seismic Monitoring Technologies
J.L. Lopez, J.K. Przybysz-Jarnut, B.E. Cox and K. Rattansingh
Event name: First EAGE Workshop on Practical Reservoir Monitoring
Session: The 4D Business Case in a Low-Cost World
Publication date: 06 March 2017
Info: Extended abstract, PDF ( 1.43Mb )
Price: € 20
We present a method to assess the technical and economic pros and cons of various marine seismic monitoring techniques. The results are displayed in a Value vs. Cost diagram to guide business decisions on the type and frequency of seismic monitoring for the specifics of the reservoir and planned recovery method. The estimation of the economic benefit is the most useful part of the exercise, as it forces geophysicists and reservoir engineers to think about the uses of 4D seismic and the decisions that may be taken based on the data. We illustrate the methodology with an example inspired by the pre-salt carbonate fields offshore Brazil. We conclude that frequent seismic monitoring may deliver high value, such as 5% increase in recovery and large incremental NPV, so long as seismic costs are affordable (relative to alternative investments that may generate similar value). There is scope to reduce seismic monitoring costs by using new technologies or if the market grows in high cost locations.