News & Insights

Transformative late life oilfield software reduces analysis time by 70%

THREE60 Energy Group | July 1st, 2021

At THREE60 Energy, we are passionate about developing solutions for effective late life oilfield management and we are proud to be at the forefront of the innovations required to support this important area.

In order to ensure the continued success of the UK Continental Shelf (UKCS), a considered and thorough understanding of reservoir characteristics is essential. This will ensure potential infill drilling opportunities can be identified, and production maintained.

Integrating and interpreting decades worth of data is the key to unlocking new understandings in the UKCS and crucial in accessing the basin’s remaining reserves. We have developed our ground-breaking Poseidon software to provide the solution to this challenge.

Our Poseidon 4D seismic software is a predictive, analytics-enabled solution which integrates the best practices of classical Locate the Remaining Oil (LTRO) within digital workflows.

Product of an NZTC (formerly known as OGTC) & Shell joint technology development project, the inclusion of 4D seismic technology means Poseidon performs next level analysis –allowing for better quantification of uncertainty in reservoir models than ever before.

The impact of this technology is already being demonstrated. Field trials in the North Sea showed that the software reduces volumetric uncertainty, highlighting new targets for increased recovery and delivered an estimated 70% reduction in analysis time – resulting in a potential £14 million of additional value.

Wider adoption of Poseidon across the UKCS could help unlock some of the estimated 2.1 billion barrels remaining in existing fields – enabling oil and gas diversification and the transition to net zero.

To find out more about Poseidon, watch the video below, created in association with NZTC.


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