The oil and gas sector has a history of experimenting with new technology for the exploration phase. Â Over the last decade #OilandGasFinderTechnology (OFT) has been deployed and proven to accelerate exploration success in more than 100 projects.
Traditionally hydrocarbon exploration takes a long time, is costly, produces limited information, and has a low success rate. Â Can that equation be changed
#OFT accelerates the traditional exploration model reducing time to reserve status. Â
It slashes the time and cost by 80% or more, produces more detailed reservoir data – including pressures, significantly increases success rates, and has no environmental footprint (on-shore or off-shore).
What makes OFT unique is that it is passive electromagnetic surveying. OFT reservoir maps are built from the processing of multi-spectral information from remote satellite and in-the-field, ground-based or on-water, detection. In every phase, it produces subsoil or sub-ocean floor geophysics, up to 10 km deep.
The focus of OFT is distortions in the earth’s magnetic field in the deep blue and ultraviolet spectrum, at the resonant frequencies of the oil, gas, or condensate of interest. This is where it is unique and why it is so accurate.
The oil & gas leaders who have evaluated or employed OFT get excited because they grasp the impact it has on their exploration business model. This is truly a revolutionary exploration technology, and we look forward to seeing its wider contribution to the energy sector soon.