Integrated oil and gas company Repsol and the French Institute of Petroleum IFPEN have signed an agreement to develop new exploration and production technologies to identify new reserves and increase hydrocarbons production.
The companies will jointly develop technology that improves understanding of the sub-soil based on data from Repsol-operated fields. With the help of the data, further development of the software developed by IFPEN will take place for basin modelling and the description of hydrocarbons reservoirs.
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Scientists at the Repsol Technology Centre in Spain will initially investigate carbonate reservoir characterisation. According to Repsol, the reservoirs account for 60% of global oil reserves and 40% of gas reserves.
The project is expected to provide new insights into some of the most challenging aspects of characterisation and reservoir modelling.This will have a significant impact on future exploration and production projects, while encouraging the development of new solutions to optimise hydrocarbon reservoir production.
Image: Repsol Technology Centre headquarters in Móstoles, Madrid. Photo: courtesy of Repsol.
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