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Re: The future of seismic exploration geophysicists

Posted: Sat Jan 09, 2021 5:13 am
by Anatolie
what is future of seismic interpretation, it is a very difficult question.

quantitative interpretation will be very important in the near future

machine learning and combination seismic attributes will be an awesome tool to predict facies and reservoir parameters

new algorithms for seismic horizons and fault will be fast and enable the interpreter to create geological model very fast

seismic interpretation will focus on quantitative and how to connect information with reservoir engineering

Re: The future of seismic exploration geophysicists

Posted: Thu Jan 14, 2021 9:57 am
by Ingrid
Seismic Exploration Geophysics is the branch of geophysics using primarily reflection seismology to explore for petroleum - oil and gas.

The industry has suffered severe cutbacks in the past three years of low priced oil and oil oversupply. Oil companies have cut back on exploration budgets considerably.

In the short term there appears to be little relief from low prices. Basically that is a result of years of overly aggressive predatory pricing by OPEC and the eventual technical breakthroughs that often follow a period artificially high prices and high demand - conservation, switch to alternate sources, and alternate supply (Namely fracking).

Seismic equipment and processing and interpretation have also played a large part in making large offshore finds productive in the 90’s and 00’s to fight OPEC. But those finds were to compete with near $100 oil.

So until oil reaches those heights again, intensive seismic exploration is not on the oil companies to do list - no oil co exec wants to spend that kind of money in this price environment. Which is a shame because those kinds of fields take 10 years to bring online in response to a price shock. Which will lead to more big oscillations in pricing.

But there will be a need for exploration geophysics, because the use for oil will not go away - ships, airplanes it is nearly irreplaceable. For cars, half the use of oil now, there is still growing demand in countries like india and china despite legislation calling for electric cars. And in the West, it will take 10–20 years for cars to make way once EVs get a foot hold - which they haven’t yet because EVs only account for 1% of new car sales… the peak number of ICE cars is still not reached.