FTG provides 90% of the value of a full 3D seismic survey for 5% of the cost
The industry has reacted to the substantially reduced oil price with, among other things, a huge reduction in exploration spend. By far the greatest cost of exploration is seismic acquisition, but technologies are available to substantially reduce costs, enabling operators to make better use of seismic budgets. One such is Full Tensor Gravity Gradiometry (FTG), supplied by Bell Geospace, world leaders in Gravity Gradiometry™.
Successful exploration is rarely dependent on a single source of information, and FTG has been adopted by dozens of established exploration companies globally, in conjunction with other geophysical techniques.
FTG is recognised as a critical step in all stages of the exploration workflow. Essentially it is a non-seismic geophysical technique which is quicker, easier, more adaptable, non-invasive and cheaper to acquire, process and interpret than seismic, and in a very short time can identify promising targets for further investigation, at which stage a 2D or 3D seismic programme can be designed over a smaller, more focussed area.
Simply put, and to quote Tullow Oil’s Annual Report, “sparse 2D seismic combined with FTG will provide 90% of the value of a full 3D seismic survey for 5% of the cost”. For this reason alone, FTG is a valuable tool in a challenging economic environment.