OilVoice - Ikon Science and ARKeX Join Forces to Develop Technology and Services

Ikon Science and ARKeX Join Forces to Develop Technology and Services

Monday, April 12, 2010

Ikon Science, the software developer and quantitative interpretation service provider for the upstream oil & gas industry and ARKeX, the provider of geophysical imaging services, have signed a cooperation agreement to facilitate the development and promotion of joint technology, services and studies that will help to de-risk complex exploration plays.

The new service is an integrated modelling workflow using Full Tensor Gravity Gradiometry (FTG) data, well information and 2D/3D seismic data in conjunction with Ikon Science's leading edge-rock physics technologies and reservoir characterisation workflows. The result will be an integrated 3D geological model with structure, stratigraphy and rock properties over target areas. The co-operation agreement with ARKeX will enable both parties to leverage their respective expertise on projects and provide improved geological understanding on a prospect scale.

Combining the benefits of Gradiometry data with Ikon Science's rock physics calibrated workflows will create:
• New 'sweet spotting' methods for oil and gas, shale gas and CBM
• New integration methods in reservoir modelling
• Methods for low cost 4D reservoir monitoring, including CBM
• Significant cost and effort savings, with reduced environmental impact'

Commenting on the announcement, Ikon Science CEO, Martyn Millwood Hargrave said;
'We are very pleased to progress our cooperation with ARKeX and look forward to developing joint studies and services which combine the benefits of FTG data with rock physic analysis.'

Phill Houghton, ARKeX Vice President of Business Development commented;
'Ikon's industry leading software and proven workflows in combination with ARKeX's BlueQube technology is an exciting prospect that will ensure that clients can maximise the benefits of complimentary data attributes Ikon was a natural choice for ARKeX and we look forward to working with them on various projects that have been identified.'