Two new computer programmes which could help to improve recovery from oil and gas fields have been developed by Statoil and Canadaâs Geomodeling Technology Corp. The software is now to be commercialised.
Offtech Invest, the groupâs wholly-owned investment company administered by the industrial development (I&K) unit, has injected some NOK 20 million in Geomodeling.
This funding is intended to back commercialisation of the SBED and SBEDStudio software, which is used to create detailed fine-scale models of oil reservoirs.
The programmes also permit more accurate calculation of the quantity of oil, water and gas in the structure, and of the way these substances flow in the rock.
Through its research and technology entity, Statoil has been helping to develop software in cooperation with Geomodeling for almost a decade.
This work has been pursued over the past five years through a joint industry project, providing research funds and leading-edge expertise in partnership with eight other oil companies.
âA special feature of the software is that models are built with the aid of sedimentology,â says adviser Trygve LĂŚgreid in I&K.
âWeâve been using SBED both on the Norwegian continental shelf and internationally.
âThe detailed models contribute to improved oil recovery and provide better estimates of how much oil and gas can be produced from new discoveries.â
The programmes are used in both exploration and production, and estimates from Statoilâs own operations teams show that they can help to boost revenues by hundreds of millions of kroner.
âOur investment through Offtech Invest forms part of our overall commitment to securing technology for improved recovery,â says Mr LĂŚgreid.