UK Neptune Invests in Subsurface Technology

UK explorer Neptune Energy is launching a subsurface programme with the aim of discovering hydrocarbons faster and with fewer dusters along the way, it said January 28. This will reduce exploration costs and bring discoveries into production up to three years earlier than current industry standards permit, it said. 

Neptune, whose interests are split between northwest Europe and southeast Asia, is working with a range of partners and vendors to develop new tools to scan and interpret vast quantities of seismic data. This will take away much of the administrative burden that geoscientists have to carry and also give them insights they can use to increase the chances of success with the drillbit.

The company is also testing new digital workstations provided by Cegal, a global provider of hybrid cloud solutions, which will also apply artificial intelligence and machine learning to make sense of huge volumes of data. The aim is a global data hub and a platform for Neptune’s teams around the world.

Neptune said: “Exploration and drilling is an important part of our strategy to grow our business in key geographies, yet it is expensive and time-consuming. Vast amounts of data, often stuck in multiple silos around the world, must be reviewed and interpreted before a single well can be drilled. At the same time, we employ incredibly intelligent geoscientists and exploration teams who have to spend much of their time on administrative work. Our digital subsurface approach will provide tools and platforms for our teams to access data quickly, allowing them to focus their time on delivering insights and results.”

Neptune said it aims "to be an employer of choice and we believe we are providing an exciting, dynamic environment for geoscientists and exploration experts to make best use of their skills and experience.”

So far it has been the big companies such as French Total, Italian Eni and US ExxonMobil that have revealed the digital brute force behind their huge oil and gas discoveries in the Mediterranean Sea, offshore Guyana and elsewhere.