Maintaining production
from mature wells requires technical experts using state-of-the-art
techniques to identify and extract remaining reserves. Often, such
techniques uncover hidden potential in areas that have been overlooked,
or were previously unreachable.
Using 3-D seismic to target deeper formations, Occidental has
identified promising prospects. 3-D seismic techniques have doubled
the success rate of current drilling operations. Since we began
using 3-D seismic techniques, several small oil and gas fields
have been found and developed.
Enhancing oil production by waterflooding some of those deeper
oil reserves to optimize recovery has proved successful. Occidental
is also re-entering and deepening shallow wells instead of drilling
more costly new wells.
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