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3D visualization for Oil & Gas industry: leaders of the O&G market in 202202/06/2023
3D modeling helps to optimize oil and gas exploration and production, increase yields, and evaluate the potential of energy sources.
Problems in the oil and gas industry must be solved thoughtfully and efficiently. With a better understanding of geology and the use of 3D modeling, issues such as soil erosion, and depth of pipeline laying, can be identified earlier. Visualization minimizes avoidable delays in the process and leads to significant cost reduction.
3D simulation allows to make changes efficiently: analyze, optimize, and experiment in a virtual environment that can reflect every detail of your production processes.
Generate 3D subsurface models in digital form
Petroleum engineers and geoscientists invest significant time combining 2D and 3D datasets from multiple sources to produce interpolated 3D subsurface models in digital form. These datasets are used extensively by the Oil & Gas industry over time in a variety of formats, at varying resolutions, and with very large amounts of data.
Stereoscopic visualization is an essential part of professional geology software, such as Schlumberger Petrel, Halliburton GeoProbe, Baker Hughes JewelSuite, the Dassault Geovia modules, or MapInfo Discover.
The visualization and especially the editing of spatial structures in 3D stereo environments is an absolutely key feature. With a stereo-capable display, spatial relationships can be immediately and intuitively understood and captured with high accuracy, compared to simple screens that only provide a flat and thus only 2D perspective view, without depth relation.
Oil & Gas Companies Have Used 3D modeling More and More in 2022
According to a study by Future Market Insights, the Global 3D mapping and modeling market is expected to reach a market size of US$ 18.2 Bn by 2032.
In 2022, more and more companies in the Oil & Gas industry have become interested in the idea of using 3D visualization:
- Schneider Digital
3D visualization directly at the workstation is provided by Schneider Digital's stereoscopic 3D PluraView dual screen systems with integrated beamsplitter mirror. With up to 4K resolution per screen and stereo channel, the user, at his workstation, benefits from a consistently available, extremely bright, and high-contrast 3D stereo display when evaluating stratigraphic profiles, 3D seismic data, borehole information, and derived 3D models.
- Earth Science Analytics (ESA)
The Norwegian Petroleum Directorate (NPD) has commissioned Earth Science Analytics (ESA) to use machine learning technology to analyze downhole and seismic well data to better understand the region's petroleum system and identify potential that has been missed in hydrocarbon zones. The exploration workflow accelerator was applied at the well and 3D seismic levels - resulting in the cost-effective addition of new wells to existing infrastructure.
CGG is a global provider of data, products, and services in the fields of earth sciences, sensing, and monitoring for the Oil & Gas industry. CGG is developing new 3D technologies and workflows for CCUS, i.e. carbon capture, storage, and utilization technologies. To do so, the company is leveraging its 3D/4D seismic imaging, gravity, and electromagnetic measurements, reservoir models, and well data capabilities to help operators meet CCUS regulatory requirements.
- Continental Resources
Continental Resources has been a leading producer of ethanol from CO₂ formations for more than 50 years in the Williston Basin. The 3D seismic was conducted by Continental Resources on the eastern side of the Williston Basin. Due to the minimal number of penetrations, the gas production company was distanced from the existing wells. The 3D visualization allowed to get control over the sandstone that was drilled, to see the best thickness of the formation based on the seismic results.
Real 3D data management in the O&G industry
The pipeline transportation process depends on a number of variables: pipeline congestion, storage constraints, demand, and more. Reducing these risks can provide greater savings. Simulation modeling can identify bottlenecks, assess the impact of external factors, and develop new organizational policies to generate savings now and increase revenues in the future.
In a refinery, 3D simulation can help analyze the situation and make decisions. Refinery systems and processes can be simulated and experimented with, allowing you to immediately see the results of different scenarios and choose the best option, for example, in terms of cost savings. This makes it possible to implement only those changes that yielded good results in the model and makes decision-making more balanced. In addition, a refinery can be modeled as part of another, broader system, such as a supply chain.
Oil and gas transportation and storage form a complex system of interacting entities. Problems in such systems are most easily solved by simulation modeling. Rextag specializes in creating accurate ground truth data on the location of all oil and gas facilities. The combination of 3D data and our company's data helps our clients build reliable and more valuable models and be competitive in the O&G market.
Using real data, you can analyze current operations and test changes without interrupting your organization's daily operations. Detailed statistics and 3D visualization make it possible to present the project to all stakeholders, make changes together, and make informed decisions.
Rextag gives you the ability to innovate for sustainable profitability in all areas of the Oil & Gas industry, from drilling to delivery.
Whether you are further curious about finding out more about the Oil & Gas industry, their assets, and related deals, please, contact our Houston sales office or SCHEDULE A DEMO to learn how Rextag can help you leverage energy data for your business.
Tyler Reitmeier Tel. +1 713-203-3128 Email: email@example.com
Blockchain as a technology for smart contracts in O&G
The oil and gas industry has long relied on the recommendations of trusted experts to make key supply chain decisions. The growing popularity of Blockchain technology could significantly disrupt these relationships by providing an unbiased methodology for sourcing, tracking, and executing transactions on behalf of customers with transparent data sets across supply chain endpoints. Blockchain technology has already been used by many global companies in the last two years in various areas such as IoT (Internet of Things), smart contracts, and cryptocurrencies. It has enabled businesses to benefit from the inherent trust and transparency of the technology.
A&Ds in O&G forecast for 2023, trends and factors that influence this
“Our view is in 2023 M&A picks up. There was some this 2022 year, but again, it was such a funky, weird macro world. We expect fewer surprises in 2023.” — Dan Pickering, Pickering Energy Partners. Modern companies in the world operate in a rapidly changing external environment, so the process of reorganization is one of the basic tools for solving the problem of adapting companies to new conditions. Recently, the number of Acquisitions and Divestitures in the oil and gas industry has been growing rapidly, i.e. it can be said that the market for these deals is dynamically developing.
Enbridge acquired Tres Palacios natural gas storage facility in Texas for $335 million, adding approximately 35 Bcf of natural gas storage to their portfolio. The facility uses salt caverns for storage and has a gas header pipeline system that spans 62 miles and links to 11 major gas pipelines. Crestwood Equity Partners LP intends to divest its interests in Tres Palacios by the second quarter.
The U.S. natural gas pipeline network is a complex system of pipelines that transport natural gas from production areas to consumers across the country. The pipeline network consists of three main types of pipelines: gathering pipelines, transmission pipelines, and distribution pipelines. Gathering pipelines are small-diameter pipelines that transport natural gas from production wells to processing facilities or larger transmission pipelines. Transmission pipelines are large-diameter pipelines that transport natural gas over long distances, sometimes across multiple states. Distribution pipelines operate at low pressure and are located in or near urban areas. They are often referred to as "utility pipelines" because they are typically owned and operated by local gas utility companies.
Diamondback Energy, an independent oil and gas company, has successfully completed the acquisition of Lario Permian, marking the closure of two major deals in the fourth quarter of 2022. The company purchased two private operators in the Midland Basin for approximately $3.3 billion.