Results for tag: "Conventional Reservoir Analysis"

Conventional reservoir analysis in the oil industry encompasses a suite of techniques and methodologies used for characterizing and understanding underground reservoirs that contain hydrocarbons in porous media such as sandstone or carbonate rocks. The principal aim of conventional reservoir analysis is to estimate the quantity of oil and gas present, assess its recoverability, and optimize resource development strategy. This involves geological assessment, petrophysical analysis, seismic interpretation, well logging, and reservoir simulation. The market for conventional reservoir analysis services is driven by the need for oil companies to maximize extraction from existing fields, as well as to discover and appraise new reserves with cost-effective extraction potential. Players in the conventional reservoir analysis market are companies that specialize in providing the aforementioned services to oil producers. These include large oilfield service companies like Schlumberger, Halliburton, and Baker Hughes, which offer integrated services covering all aspects of reservoir characterization. Other notable firms include Weatherford International and Core Laboratories, which offer specialized services and technologies tailored to enhance reservoir understanding and performance. These companies work in various capacities, from data acquisition and processing to interpretation and consulting services, forming an essential link in the upstream oil and gas sector's value chain. Show Less Read more