3D Seismic Data Processing to Increase Effectiveness of Oil & Gas Prospecting & Development

Sep 25, 2007 -- /prbuzz/ --3D Seismic Data Processing to Increase Effectiveness of Oil & Gas Prospecting & Development

TNK-BP Selects Geomage 3D MultiFocusing© Technology for West Siberian Project

SEG 2007, Texas, USA & Moscow, Russia – 25 September, 2007 – Geomage Ltd, the developer of MultiFocusing Technology, announced today that TNK-BP, one of world’s largest privately owned crude oil production companies, has chosen to begin processing their West Siberia oilfield seismic data using Geomage’s newest 3D MultiFocusing© Technology.

MultiFocusing provides a significant advantage to TNK-BP, a leading Russian oil company, in their efforts to pinpoint reserves. Geomage will provide TNK-BP with a migrated cube of amplitudes and velocities in time scale. The TNK-BP agreement gives significant market visibility to Geomage in Russia and demonstrates critical improvements over current seismic data processing methods.

"We believe that 3D MultiFocusing can provide considerably more reliable seismic images necessary to identify potentially lucrative oil & gas reserves," said Randy Peters, Project Manager at Russkoye Development, a branch of TNK-BP. “Geomage’s images and their geophysical processing expertise has proven a significant increase in signal-to-noise ratio and resolution, clearly higher than any other seismic data processing output we have found on the market.”

While Geomage has recently enjoyed widespread recognition of its 2D seismic imaging throughout the world, the TNK-BP project will be the first time MultiFocusing is used for 3D data processing. Oil exploration companies of all sizes will now have access to highly accurate seismic images, for any geological conditions, in order to accurately explore oil and gas reserves.

“We are proud that TNK-BP, the leading Russian oil company, has chosen to pioneer oil exploration using our unique 3D seismic imaging for their important project,” said Emil Guberman, a Geomage founder and VP Marketing & Sales. “Together, we will validate the effectiveness of 3D MultiFocusing by identifying valuable reserves and clearly reducing exploration and production costs.”

About TNK-BP
TNK-BP is among the top ten privately-owned crude oil producers in the world. Headquartered in Moscow and governed by a multinational management team, it has work experience in over 50 different countries. TNK-BP employs approximately 71,000 people, mostly located in eight major areas of Russia and Ukraine. The company was formed in 2003 as a result of a historic merger of BP’s Russian oil & gas assets and the oil & gas assets of Alfa Access Renova group (AAR). BP and AAR each own 50% of TNK-BP. For more information, please visit: http://www.tnk-bp.com

About Geomage
Geomage is a privately held energy technology service provider whose solutions are based on Geomage MultiFocusing©, a proprietary seismic data processing method. The company operates seismic processing services centers around the world. For more information, please visit:
http://www.geomage.com/tech_3d.php

TNK-BP Media Contact
Marina Dracheva
TNK- BP International Media
7-495-745-78-46
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Geomage Media Contact
Emil Guberman
VP Marketing & Sales
Geomage Ltd.
USA: 1-832-369-5966
Russia/CIS: 7-499-197-7517
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About the Press Release
3D Geomage MultiFocusing provides considerably more reliable seismic images necessary for identifying potentially lucrative oil & gas reserves.


 
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