9 September 2008
Bangladesh selects Geotrace's Tigress software to help increase country's gas reserves
Houston
Geotrace, a leading reservoir services company that provides subsurface imaging solutions to the oil and gas industry worldwide, has announced that its Tigress software was selected by the Bangladesh Gas Fields Company Limited (BGFCL) as its primary 3D interpretation system. Tigress will be used to determine accurate reserves figures, guide drilling programs and maximise future production of gas for the company and country. It will be the first time 3D technology will have been implemented in the Bangladesh gas fields to quantify assets.
Bangladesh’s population of 150 million people depends heavily on domestic gas production as its main source of power and, as in many other non-OPEC countries, supply and demand are now finely balanced.
“We are pleased to assist BAPEX with this strategic work, and are providing our leading edge interpretation and data management technology” said David Sullivan, managing director of Geotrace Data Integration Services Ltd. "By implementing Tigress as its 3D interpretation system, we will be able to help Bangladesh better define and develop its resources and to work to increase its known hydrocarbon reserves."
BGFCL selected Tigress over the 3D seismic interpretation systems of other top industry players because of its cost-effectiveness and capabilities.
Geotrace’s proprietary Tigress technology was selected to build a front-end E&P database for each of BGFCL’s five producing gas fields, where 40 percent of Bangladesh’s gas production originates, using data from a variety of sources.
The 3D seismic acquisition program will take three years to complete and is scheduled to start later in 2008. This will be supported by the creation of corporate and project databases covering all five fields and collating legacy data from the past four decades. The system will be based in the Bangladeshi capital, Dhaka, where Geotrace is represented by local teams with strong backgrounds in the domestic gas industry. The project has been commissioned by BGFCL's parent company, Petrobangla, the National Oil and Gas Company of Bangladesh.
About Geotrace
Geotrace is an independent, integrated, reservoir services company that provides subsurface imaging solutions to the oil and gas industry worldwide. Geotrace's suite of proprietary technologies assists clients in the optimisation of oil and gas production and exploration risk management. Based in Houston, Texas, Geotrace's customers include international, domestic, foreign national and independent oil and gas producers throughout the world.
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