Victoria also has strategic relationships with Blackwatch Petroleum Services, an international geoscience consultancy, and Geodynamics Research, developers of IPDS passive seismic technology.

 

Strategic Relations

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Blackwatch

Victoria has entered into a strategic consultancy agreement with Blackwatch Petroleum Services Limited, an international petroleum engineering and geo-science consultancy founded in 1994 with offices in Aberdeen, London, Abu Dhabi and Houston.

Clients range from international majors to small independents.

Blackwatch has extensive experience in planning full lifecycle operations for petroleum concessions including Reservoir Engineering, Petrophysics, Asset Evaluation, Well Operations, Well Testing, and Well Engineering and has a proven track record of adding value to complex and challenging reservoirs. Blackwatch’s clients include multi-nationals through to small independents, banks, financial institutions, stock markets and governments.

A simplified chart of Chart of Blackwatch’s services through the E&P lifecycle is highlighted below:

Blackwatch Modelling of the Petroleum Life Cycle

Petroleum Life Cycle

At the early stages of the petroleum life-cycle, Blackwatch focus on the exploration phase which incorporates all the subsurface technologies described above. In this phase, exploration work is aimed at identifying plays, leads and prospects. When these are defined, the exploration programme is designed as shown in the diagram below.

Program

When dynamic data is available, subsurface models are built and used for conceptual development planning. Parallel to the subsurface conceptual design work, Blackwatch conducts production facilities conceptual design.

Further information on Blackwatch and its capabilities can be found at the company's website:www.blackwatch.co.uk

Blackwatch provides advice on the development and exploitation of the Company's assets in Africa and the FSU.

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GeoDynamics

GeoDynamics Research Srl was founded in 2003 and is based in Trento in Northern Italy. The Company aims to become the leader in the development and application of passive low frequency acoustic and electromagnetic technologies for the surface detection of hydrocarbons and oil reservoir monitoring.

Infrasonic Passive Differential Spectroscopy – registered for GeoDynamics under "Geospectra IPDS" – is a new technology for hydrocarbon reservoir detection and monitoring and has been developed since 1995 by a group of scientists originally headed by Ernst D. Rode, Dr. Jürgen. Moritz and Dr. Gennadij Chutov. The company was founded by Ernst D. Rode and it has now established operating units in the USA, UAE and Saudi Arabia.

Further information on GeoDynamics and its operations can be found at the company's website: www.geodynamics.it

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Geospectra IPDS Technology

Geospectra IPDS ("Geospectra") technology, is one of the most effective tools for hydrocarbon monitoring and identification of water fronts and fingering.

Unlike conventional seismic technology which requires the creation of acoustic waves typically through the use of explosives or a vibrator unit at the surface, passive seismic utilises ultra-sensitive surface geophones to measure normal seismic waves naturally produced in the Earth tectonics. This technology can be used on a stand-alone basis for hydrocarbon exploration as it can detect the presence of moveable hydrocarbons and water contacts or to enhance existing seismic data. The advantages of Geospectra over traditional seismic methods include:

  • Environmentally friendly: as no artificial means of generating acoustic waves are used, no damage or pollution is caused at surface
  • Detecting hydrocarbons: traditional seismic is used to determine geological formations for interpretation as to possible hydrocarbons saturation, whereas Geospectra directly measures the presence of hydrocarbons in porous rocks by recording anomalies in natural earth spectra as acoustic waves pass through them
  • Speed and cost: Geosprectra is a highly mobile and very low cost form of seismic monitoring, which can yield interpreted results in a very short period
  • Both GeoDynamics and Victoria believe that the application of Geospectra could greatly enhance the Company’s existing subsurface data interpretation and significantly reduce exploration risk.

The exploration and development operations undertaken by Victoria are based primarily on geological models formulated through interpretation of conventional 2D and 3D seismic data. This form of subsurface modelling can still leave an element of uncertainty, as with conventional seismic, as to the presence of commercial hydrocarbons in a specifically defined location.