Ikon Science has inked the first sale of its Joint Impedance and Facies Inversion product (Ji-Fi) to US-based independent operator Murphy Exploration and Production Company (Murphy Oil), two months after the launch of the software in December 2014.
Ji-Fi offers a new method to deliver a reservoir model broken down into its constituent facies (water-bearing, oil-bearing and gas-bearing reservoir rock, shale, etc.) using knowledge of the rock and fluid properties that can be inferred from wells and/or from knowledge of the regional characteristics of the different formations, assisted by rock physics.
Ji-Fi is the result of a five-year collaboration with the Australian research institute CSIRO, and was sponsored by Tullow Oil during the last three years of the project. Ji-Fi removes a number of limiting assumptions commonly used in seismic inversion.
“The purchase of Ji-Fi by Murphy Oil, an independent global exploration and production company, validates the belief held by Ikon Science that this technology will transform the way seismic data is inverted to geological models” commented Martyn Millwood Hargrave, CEO of Ikon Science, “Ji-Fi represents a game-changing investment for Ikon Science, leveraging our Company’s roots in rock physico deliver seismic inversion accessible to geoscientists around the globe."