3DGeo Awarded Prestigious Meritorious Engineering Award
April 16, 2007
Houston, TX - 3DGeo Inc. (3DGeo) is a winner of the prestigious 2007 Special Meritorious Awards for Engineering Innovation. 3DGeo was selected for the award for Imaging
Ultra Deep Structures using Wave Equation Migration and Illumination.
Alexander Mihai Popovici, Co-founder and Chief Technical Officer of 3DGeo will accept the award for 3DGeo. "It is an honor for our technology to be recognized as the best"
, states Popovici. "The ultra-deep imaging technology has applications to deep structures exploration and delineation. Ultra-deep plays present a significant opportunity
for seismic companies because legacy data sets whether proprietary or multi-client fall short technically of what is required to open these new trends". The U.S.
Department of the Interior, Minerals Management Service OCS Report MMS 2001-036, assessed that the amount of Undiscovered, Conventionally Recoverable Resources in the deep
Gulf of Mexico, is an average of 37 (high estimate of 45) billion barrels of oil, and 193 (high estimate of 207) trillion cubic feet of natural gas. At a conservative
average price of $40 per oil barrel and $8 per MCF of gas, that is a value of $1,480 billion for the oil reserves and $1,544 billion for natural gas reserves.
According to Popovici "Utilizing 3-D wave-equation migration for seismic imaging is a new approach that has shown great promise imaging the complex deep Gulf of Mexico
structures. This technology can be used for oil-and-gas exploration in deep complex structures over 15,000 feet where conventional single travel time arrival Kirchhoff
imaging fails to provide an accurate structural image, while wave-equation imaging provides much higher structural resolution and amplitude fidelity". 3DGeo has been
one of the pioneers in researching common image angle gathers technology and holds the patent (U.S. 6546339) for using the move-out of the angle gathers for computing
the velocity update.
Hart's E&P, a leading oil and gas industry publication, presents the award to honor the world's best new tools and techniques for finding, drilling and producing oil
and gas wells. Hart's E&P will present the 2007 awards at the Offshore Technology Conference in Houston, Texas, April 30. Hart's E&P has been presenting the annual
award since 1971.
About Hart's Awards for Engineering Innovation in E&P
The Hart's award program honors engineering excellence and achievement in every segment of the global oil and gas industry. It recognizes new products and technologies
that offer innovation in concept, design, and application. Winners represent techniques and technologies that are most likely to solve costly problems and improve
exploration, drilling, and production efficiency and profitability. Contest judges, including engineers and engineering managers from operating and consulting companies
worldwide, choose the winners. More information can be found at the Hart's E&P magazine Web site: http://www.eandpnet.com/.
About 3DGeo Inc.
3DGeo Inc. (3DGeo) is a leading provider of advanced imaging software technology and services for the oil and gas industry. 3DGeo helps oil and gas companies visualize
3-D earth structures and reduce the drilling risk associated with oil and gas exploration. Companies that use 3DGeo's services lower the cost of production, provide faster
delivery of oil and gas to the marketplace, and tap oil and gas from ever more challenging plays.
Since its founding in 1994, 3DGeo has accumulated a depth of technical expertise and built a highly focused organization to ensure that promising new technologies and
the latest 3-D algorithms produce efficient, quick, and robust results. 3DGeo is a privately-owned company with Headquarters in Santa Clara, CA, and offices in Houston,
Texas and worldwide.
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