The US Energy Information Administration (EIA) predicts that worldwide oil demand will increase from the current 83 million barrels per day (bpd) to approximately 118 million bpd in 2030. To meet this need, the EIA estimates that over $20 trillion of energy related investment will be required through 2030. The National Petroleum Council (NPC) concluded in a July 2007 report that the world is not running out of energy, (there are approximately 20 trillion barrels of oil equivalent in place, roughly equivalent to 400 years at current consumption) but only 5 trillion barrels can be recovered with existing technology. Most experts agree that widespread implementation of 4D seismic techniques represents the most viable method to effect this increase in the recovery percentage. USSI’s new fiber optic sensor systems can provide the key to fuel the widespread adoption of 4D seismic technology.
Why USSI Fiber Optics? – There are two main barriers preventing widespread use of 4D (time lapse) seismic technology in the oil and gas industry, those being repeatability issues with the data and the cost of the surveys. The best way to solve the repeatability issue is to ensure that the locations of the seismic sensors remain fixed, i.e., permanently installed. However, current systems are too expensive and too unreliable to leave in the ground permanently for repeat surveys. In contrast, an equivalent permanent USSI fiber optic system costs about 90% less, and since the fiber optic sensors require no active electronics or electrical power, they are extremely reliable.
USSI’s Role in the Market – Worldwide expenditures in oil & gas exploration and production (E&P) were approximately $400B in 2008, and 3D/4D seismic has consistently been rated as one of the most important technologies influencing the E&P business. USSI’s fiber optic sensors are designed for permanent installation in special purpose, small diameter wellbores, called microholes. According to the US Department of Energy, National Energy Technology Laboratory, “microhole technology (providing inexpensive access to the subsurface) has the potential to be the most significant technology advance for the energy industry in the last 50 years. It has the potential to be a catalyst for creating a quantum leap in imaging technology, which could lead to a much clearer understanding of subsurface processes. The result is an enhanced picture of the subsurface that helps operators to reduce drilling risk and optimize oil and gas recovery”. USSI has developed its very low cost seismic imaging system to respond to this opportunity.
