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Friday, July 17, 2015
Release
RSI and Repsol Announce the Start of a Three-Year Joint Technology Project for the Development of Rock-Physics and Controlled Source Electro-Magnetic (CSEM) Interpretation and Integration Technology
HOUSTON–(BUSINESS WIRE)–On Wednesday 15 July 2015, Repsol and RSI signed a three-year agreement under which they will co-develop a state-of-the-art platform for the integrated interpretation and joint inversion of seismic and CSEM data within a rock physics modeling framework. The joint project will be built upon RSI’s existing technology and experience in these fields, and draw heavily on Repsol’s geophysical knowledge and exploration expertise. Both Repsol and RSI will own the resulting technology.
The $11.5 MM project will allow RSI to substantially increase its Research, Development and QI groups, adding an additional 10 to 12 staff. A key deliverable from the project will be a joint seismic and CSEM inversion system anchored within a rock-physics framework.
Stated Dr. Lucy MacGregor, Chief Technology Officer of RSI: “RSI is delighted to be working alongside Repsol on this project. Both companies recognize the value of rock-physics based Quantitative Interpretation, and the additional value that CSEM data can bring to the exploration workflow. However, in order to unlock this value, there is a pressing need to develop sophisticated, robust and efficient interpretation tools and workflows; this project will specifically address this need.”
Francisco Ortigosa, Director of Geophysics for Repsol, added: “This collaboration represents a leap forward in hydrocarbon exploration, thanks to the combination of Repsol’s recognized expertise in this area and the innovative technology of RSI. Together we form a perfect tandem to develop this cutting-edge concept.”
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