Managing uncertainty: derisking oil exploration in complex environments
Published April 1, 2014 | Earth Explorer Magazine
One thing virtually all energy explorers must face is diminishing returns on investment. It’s the harsh reality that is forcing them into more inaccessible and challenging territory.
In 2011, the specialist geosciences company Bridgeporth Ltd. was founded, with a focus on helping explorers manage uncertainty in regions that have seen little exploration due to security and logistical concerns.
The right combination of in-house expertise for managing political, operational and security risks, and an integrated toolbox that includes Geosoft Oasis montaj, GM-SYS 3D, and proprietary workflows has enabled Bridgeporth to handle projects under almost any conditions.
In this article:
- How to condense timelines to minimize delays that can carry greater risk when exploring in challenging regions.
- The importance of building relationships on the ground and liaison work with local communities.
- The role of technology and integration in getting the complete picture.