A Large Integrated Oil Company - Elsevier · 2019-11-04 · SITUATION OVERVIEW: A geophysicist...
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SUMMARY By integrating Geofacets with ArcGIS, this organization completed a 1-year global evaluation in less than 6 months. CASE STUDY A Large Integrated Oil Company Global Tectonic Maps
Transcript of A Large Integrated Oil Company - Elsevier · 2019-11-04 · SITUATION OVERVIEW: A geophysicist...
SUMMARYBy integrating Geofacets with ArcGIS, this organization completed a 1-year global evaluation in less than 6 months.
CASE STUDY
A Large Integrated Oil Company
Global Tectonic Maps
“The company was able to access and download over 1,000 maps and complete a global evaluation that would have taken at least a year—in under six months.”
CASE STUDY: A Large E&P Customer
SITUATION OVERVIEW: A geophysicist working in the research department of a large integrated oil company had to complete a global basin screening project.
In a changing landscape where the price of oil continues to decline and the days of “easy oil” are a bygone era, maximizing yield and return while minimizing the risk involved in drilling and developing is top of mind.
As companies seek more cost-effective ways to assess and prioritize exploration opportunities, their employees are leveraging tools like Geofacets, instead of more publicly available tools, to help them do more with less.
This particular geoscientist compiled a global tectonic map by integrating Geofacets’ georeferenced maps into ArcGIS. After the simple import of those GeoTIFFs, the user then digitized key structures and elements into shapefiles.
The outcome: The company was able to access and download over 1,000 maps and complete a global evaluation that would have taken at least a year—in under six months.
“This is a tool for the future,” remarked this geophysicist.
That future is NOW.
HOW GEOFACETS HELPSWith access to over 550,000 maps via a single subscription, Geofacets offers the largest database of georeferenced geologic maps—pulling data from publishers such as Elsevier, Geological Society of America, Society for Sedimentary Geology, Geological Society of London, Society of Economic Geologists, American Geophysical Union, and Wiley.
With contraction in the oil industry, and a more capital-intensive environment to unearth and explore potential new venture opportunities, any company not locked in survival mode is seeking sustainability or growth.
Short term, Geofacets can help companies to home in on the geographic areas they want to further explore and potentially invest in—and to do so economically. Long term, it’s a tool that can help companies stay abreast of the latest geoscience information and innovations, and optimize workflows.
Geofacets is a particularly high-value solution for exploration teams, as it provides a vast array of relevant geologic content, while easily extracting, integrating, and overlaying information into existing workflow processes—reducing critical search time.
Workflow Integration Accelerates Global Tectonic Map Production
CASE STUDY: A Large E&P Customer
Geofacets content is also downloadable as GeoTIFFs for input into ArcGIS, Petrel*, petroWEB, DecisionSpace®, Kingdom®, and more.
All the metadata, georeferenced maps, and referenced articles are linked for easy and flexible searches, and are tied to the related article for further evaluation; so one can easily search by geographic area or by map subject, article, date, scale, keyword, and other options.
Had the featured geophysicist not been able to leverage Geofacets, she would have used Google Scholar and other sources of less curated data, then had to sift through the articles or to rely on even more time consuming and expensive georeferencing. The refined results from Geofacets included map thumbnails, which were especially useful to expedite access to key maps of interest.
More important, Geofacets time savings are accompanied by cost savings:
• On the lower end, evaluations place the average company cost for 10 geoscientiststo conduct research at $200,000 per year. Geofacets’ 50% time efficiency gain canreduce these costs to $100,000 per year.
• On the higher end, evaluations place the average company cost for 40 geoscientiststo conduct research at $800,000 per year. Geofacets’ 50% time efficiency gain canreduce these costs to $400,000 per year.
For oil companies newly attuned to cost savings, and the “new” normal for due diligence and oil exploration, the bottom line benefits of subscribing to Geofacets are clear.
*Trademark of Schlumberger
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