TGS-PGS Merger - SEISMIC News скачать в хорошем качестве

TGS-PGS Merger - SEISMIC News

Some major industry news, that could have huge ramifications, broke recently - here is our instant reaction to it! Seismic companies TGS and PGS "announced today that they have agreed the principal terms of a combination of TGS and PGS to create a strong full-service energy data company." Let us know what you think in the comments. I meant to say "Ion Geophysical". We missed out that TGS have a lot of fixed node experience. Mea culpa. It was an 'instant rection' rather than one of our regular researched features. It was breaking news which we felt had to go out - we will correct any errors where we can and correct in follow-up videos. Get in touch today to find out more about our TROVE databases - we'd be happy to arrange a demo: info@1stsom.com https://www.1stsom.com All images used in the video are open source. References are provided on-screen and can be found within TROVE. No infringement intended. BIG Industry News - Instant Reaction to the TGS/PGS Merger Multiclient data libraries have grown substantially in the last few decades. It was recognised by some countries that it was inefficient to have seismic re-acquired where it already existed. Yes there can be quality uplifts on new state-of-the-art acquisitions, but often the existing seismic data can be reprocessed using modern algorithms and processing workflows to greatly improve the imaging of the subsurface. Over the decades, companies like TGS, PGS & CGG have acquired seismic on behalf of a number of joint venture companies over a wide area. These explorers are able to licence the data from the Multiclient companies, but the ownership of the data typically remains with the acquiring company. Consequently, access to field tapes etc for reprocessing and release of legacy data to national data repositories is controlled by the seismic companies and in many cases is costly to achieve or denied. This causes tension with operating oil & gas companies and, in some instances, government regulators. The argument goes that only by a number of companies pooling together to underwrite a seismic survey can the acquisition go ahead. The seismic companies state they make little profit in such arrangements and their remuneration comes when legacy data is licensed, re-licenced, companies change legal entity or re-processed. This is a source of frustration and ill-will since in some cases oil companies are asked to "pay again" to get their data or have to delete the data from their workstations. It has been a source of contention and ill-will between parties for decades. For explorers, they often end up working with sub-optimal datasets as the expenditure cannot be afforded or justified. Wells get drilled on this sub-optimal data and it is highly probable some well results suffer from not having state of the art seismic. How is this conundrum sorted? Well in the last 50 years no satisfactory solution has been found. This leads to a general feeling of mistrust and a view that the multiclient seismic library owners have a licence to print money. The multiclient seismic library owners believe this is how they justify their initial risked investment and get an adequate return on their investment. Never the twain?!? In recent decades Multiclient providers have mad deals at a national level with contras, governments and regulators giving them share of the pie in return for exclusivity to conduct geoscience studies in-country. This creates a monopoly and excludes other consultancies, service providers and others from effectively being able to do business in these countries. And it's not just one or two countries, - it can be basin-wide, multi-country, almost continent exclusivity. So, beware the contract you sign. Many countries are delighted to get a share of sales of seismic and see millions of dollars being received. But, IMHO, if exploration was open to a wider cadre of explorations, beyond the super-majors, majors and NOC's there would be more success. Witness the numerous independents who have successful established petroleum provinces and opened up new plays around the world. Governments should realise they earn orders of magnitude more revenue when they get tax from a producing field than they will ever get from selling seismic and geoscience reports. Sure, more patience is required, but the prize is well worth the wait. Anyway, food for thought.