25 June 2008
Offshore Hydrocarbon Mapping plc ("OHM" or "the Company"): OHM launches the WISE Consortium
Offshore Hydrocarbon Mapping plc (OHM) and Rock Solid Images, together the OHM Group, are pleased to announce that a three-year joint industry project to investigate 'Well Integration with Seismic and Electromagnetics' (WISE), formally kicks-off today. The goal of the project, sponsored by a consortium of oil companies and the OHM Group, is to develop new and innovative methods of jointly integrating and interpreting seismic, Controlled Source Electromagnetic (CSEM) and well log data – the ultimate objective being to provide improved maps of reservoir properties, such as hydrocarbon saturation, across a field.
In addition to the OHM Group, a number of oil companies are joining the WISE consortium including; Total, Chevron and DONG Energy along with the UK governments' Department for Business, Enterprise and Regulatory Reform (BERR); the consortium has been brought together by the Industry Technology Facilitator (ITF). Investigations will include establishing the optimum algorithm for remapping CSEM results into the higher resolution seismic data and developing a joint inversion methodology for seismic and CSEM data.
This ground breaking research will further assist the industry to exploit the combined strengths of each of these valuable data types, allowing application to both existing and newly acquired data.
Ultimately, the outcomes of the project aim to help further reduce exploration risk and uncertainty in reservoir production – enabling oil producers to maximise production and increase recoverable reserves.
Commenting on the launch of the WISE consortium, Dave Pratt, Executive Chairman of OHM said:
"The aim of this project is to help industry exploit the combined strengths of CSEM, surface seismic and well data, the results of which could transform current practices of how geophysical data is processed and interpreted. We are very pleased to have received significant industry commitment to the project."
Adding to this, Duncan Anderson, Technology Manager for ITF said:
"ITF acts as a catalyst for companies like OHM to take their innovative technology ideas to the next level. We issued a call for exploration proposals last year and OHM's WISE project was identified as a highly innovative proposal that could really add value to the industry. We are delighted to have been able to support the OHM Group to establish this as a major joint industry project."
For further information, please contact:
Offshore Hydrocarbon Mapping plc
www.ohmsurveys.com
Dr Lucy MacGregor +44 (0) 870 429 6581
Rock Solid Images
www.rocksolidimages.com
Dr. Joel Walls +1 713-783-5593
Aquila Financial Limited
Peter Reilly +44 (0)118 979 4100
Notes for editors
Offshore Hydrocarbon Mapping plc listed on London's Alternative Investment Market (OHM) in March 2004 and provides Controlled Source Electromagnetic imaging services to the offshore exploration industry.
Controlled Source Electro-Magnetic imaging (CSEM) is potentially the most important new technology in the field of offshore oil & gas exploration since the advent of 3D seismic some twenty years ago. CSEM is an innovative offshore geophysical technique, employing electromagnetic remote-sensing technology to detect the presence and extent of hydrocarbon accumulations below the seabed.
The CSEM survey uses a dipole source that is towed just above the seafloor to transmit an electromagnetic field into the earth. This field is modified by the presence of subsurface resistive layers and these changes are detected and logged by an array of receivers placed on the seabed. Because hydrocarbon-bearing formations are highly resistive compared with surrounding formations, a CSEM survey can indicate the presence of oil and gas in offshore situations.
CSEM imaging can significantly reduce the risk of drilling dry exploration wells creating considerable value for oil & gas explorers.
Rock Solid Images, headquartered in Houston, Texas, is an industry leader in the integration of fundamental rock physics with well data and surface seismic in order to interpret geophysical signatures in terms of reservoir properties such as lithology, porosity and saturation.
Rock Solid has an extensive suite of proprietary software which it uses in its service division and which, in certain circumstances, it also licenses to its clients.
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