Technology that enables substantially improved control of oil and gas reservoirs and implicitly higher values
LoFS, also called PRM (Permanent Reservoir Monitoring) or PSM (Permanent Seismic Monitoring), has some distinct pros and cons when comparing with the alternative technologies. The foremost challenge is the long term commitment to a specific technology branch combined with a relatively large upfront investment, which is a new phenomena in the seismic industry’s culture.
However, there are also significant pros that must be taken in to account. The images achieved are accurate and of very high resolution with obvious consequences; precise data to share with the drilling team and precision feedback on the reservoirs depletion specifics. Moreover, LoFS means great operational flexibility and unprecedented short lead time to repeat surveys. These are in relative terms affordable to execute, and new data is available to the geophysicists and reservoir engineers within weeks.
To prepare for a LoFS project is something new for most geophysicists. It requires interfacing with a number of departments, expertise and processes they have not needed to previously; financial expertise, projects department, specialist engineers, inspection and testing, installation contractors, gate reviews, technical peer reviews etc. This is where Facilium comes in to the picture while we support these processes from pre-appraise all the way through execution and system operation.
As for any project, cost is a driving factor for the selection of seismic acquisition method. Facilium has gained 13 years of worldwide experience from LoFS Projects and have prepared a “Pre-Appraise LoFS Cost Calculator” to allow those who may be interested in understanding the order of magnitude investment and average acquisition cost. Facilium LoFS Cost Calculator.