Industry Article: The Need for Collaboration in Exploration

Operators and service providers working together can improve upfront subsurface characterization and revitalize exploration activities

The Need for Collaboration in Exploration
Publication: E&P
Publication Date: 12/01/2014

Conventional discoveries have been declining since 2008, and 2013 was the worst year for global exploration in two decades. Roughly one-third of all exploration wells fail to find commercial hydrocarbons, and 30% of perforation clusters in unconventional plays fail to contribute anything to production.

What operators need is better subsurface characterization up-front, prior to extensive field development. Unfortunately, the industry is suffering an ongoing shortage of experienced petrotechnical personnel to do the work.

More collaborative models of engagement between energy companies and service providers promise to overcome growing risks and complexities in exploration and reservoir characterization. Under such agreements, operators and consultants form joint teams, integrating tools, knowledge and workflows to achieve common goals.

One national oil company joined forces with Schlumberger for a six-year collaboration on more than 100 projects. Together, they reduced exploration cycle times by 50%, identified 225 economically viable prospects, drilled more than 60 wells, and booked over 3 billion bbls of proved reserves.

Download: The Need for Collaboration in Exploration (0.19 MB PDF)

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