Understanding the Risk

There will always be risk associated with hydrocarbon exploration and those risks increase significantly as we move away from data control and into frontier regions. While some companies may weigh the risks differently, one thing they all have in common is a desire to fully understand that risk, in order to achieve the best possible chance of success. Understanding the larger regional context is crucial to understanding some of the risks involved in frontier exploration, and should not be overlooked.



On Thursday 11th May Landmark Exploration Insights will be hosting the 8th London Earth Model Forum at The Geological Society, during which Dr. Duncan Hay (Exploration Insights Geoscientist), will present on the High-grading exploration in the Eastern Mediterranean: the impact of regional screening”

Abstract: Corporate and exploration managers continually balance geological, technical and economic uncertainties and risk against potential financial reward. In frontier areas, regional screening can help in the assessment of risk and test play concepts at an early stage in the exploration process, enabling informed analysis of geological systems, before costly investment decisions are made. However, assimilating datasets for this analysis is often prohibitively time consuming and requires specialist expertise. As such, regional analysis is not systematically practiced, meaning risk and uncertainty may not be fully analysed and the unique insights gathered from it are never truly realised. To demonstrate the value of regional screening, we show how interpreting datasets within a sequence stratigraphic framework provides a common platform for integration. This enables regional screening to be performed rapidly and is a robust tool for analyzing potential petroleum prospectivity.

In this presentation, we take an example from the Eastern Mediterranean and show how interpreting sixty regional seismic lines enables the major tectonostratigraphic packages to be established. This is integrated with the Exploration Insights product suite to provide a framework for assessing the presence and effectiveness of petroleum system elements. Analysis enabled the play extents of the Cretaceous to Miocene carbonate system (e.g. Zohr field) and Oligocene-Miocene turbidite system (e.g. Tamar, Leviathan) to be determined. By assessing the biogenic gas system, we observed that reservoirs in the Levantine Basin are below the biogenic gas window present-day. We test scenarios for contributions from possible thermogenic systems.

The results show that Exploration Insights products can be used to help in establishing critical risk and highlighting potentially prospective areas before investment in costly datasets. This exploration tool kit enables play concepts to be tested quickly, helping operators in their efforts to build a robust and varied exploration portfolio.



This is one of a series of technical presentations which will be delivered by Landmark Exploration Insights on Thursday 11th May at our LIFE London event: The Earth Model Forum, at The Geological Society, London. The full details of the event and agenda can be found here. Join us as we address some of the key geological challenges facing exploration and unveil the latest developments at the heart of our offering.  


This event is free of charge, but spaces are limited. Reserve your place today by contacting us at LIFE.EMF@Halliburton.com