Validation of structural models for exploration blocks in Malay, Sarawak, and Sabah basins

Dr. Juan Francisco Arminio shares his experience and insights in finding new plays and developing new ideas exploring old plays in mature petroleum basins. He examines the development history of the Lake Maracaibo basin and the evolution of the geotechnical understanding of the petroleum plays in the region

For companies contemplating a Basin Entry, whether it is a basin previously unexplored or a basin new to the company, a number of key questions come to the fore: Why? Does it fit with our corporate growth strategy and risk profile? Do we have a differentiated insight into the basin? Do we think it aligns with our capital exposure thresholds? How? Minimal Entry Cost/Later Expansion? Partner or Solo? How will we improve the likelihood of success (see “differentiated insights”)? What does success look like, or on the flip side When do we Know we have Failed? What is our dry hole tolerance? Basin and play exploration are inherently governed by the management of risk and uncertainty at the portfolio level. Exploration investment decisions biased by risk-averse teams are susceptible to first-order basin statistics which may reflect a historical “poor” exploration history and exhaustion of existing play concepts. New concepts, new models, new thinking, and consideration of alternatives often result in a paradigm shift despite previous negative results. We will review the Suriname-Guyana basin case study to discuss the required understanding of geology that leads to exploration success. We will share our experiences with acreage selection processes we have witnessed and participated in while working for a variety of E&P companies and examine how, by learning from the past as objectively as possible, we can improve the likelihood of a successful outcome.

This is a quick technology tour that covers the fundamentals of QI and Pore Pressure Prediction (PPP). The concepts and workflows are briefly presented and their potential benefits during prospecting for oil and gas and appraisal of the reservoirs are discussed. This webinar is part of the formal training and is included in the introductory module of a complete Pore Pressure course offered within the catalog of the courses on the U3 Explore platform. Some of the items of discussion during this webinar are: Seismic data conditioning for QI & PP EEI as feasibility tool before Seismic Inversion Lithological Substitution Deterministic & Stochastic Inversions PP modeling Rock Strength and Pore Pressure