Peter Stewart, PortandTerminal.com, January 8, 2019
Hamburg, Germany – BP’s investment in next-generation technology just paid off to the tune of a billion barrels of oil.
BP made the massive 1 billion-barrel discovery at its Thunder Horse field off the tip of Louisiana. Thunder Horse is the company’s largest production and drilling platform in the Gulf of Mexico. BP is the Gulf of Mexico’s biggest producer.
Executives at the company credit BP’s investment in advanced seismic technology and data processing for speeding up the company’s ability to confirm the discoveries at Atlantis and Thunder Horse. BP says it once would have taken a year to analyze the Thunder Horse data, but it now takes just weeks.
The company has put a heavy emphasis on technology and data processing capabilities in recent years in order to unlock new resources and cut costs.
Advanced Seismic Technology
“Seismic imaging allows us to see below sea and overburden rock, into the reservoirs which hold hydrocarbon resources.
It helps locate and characterise the hydrocarbons and used in 4D mode (where the 4th dimension is time), it helps monitor how the reservoir is changing as oil, water and gas move within” according to the company’s website.
BP now expects its fossil fuel output from the region to reach 400,000 barrels of oil equivalent per day by the middle of the next decade. Today, it produces about 300,000
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