Recent advances in scientific disciplines such as physics combined with improvements in computers have created major breakthroughs in geophysics, geochemistry, geology and other exploration disciplines.
Geophysics has pursued ever greater advances in seismic and in solutions such as Multi-beam Bathymetry for the hard problems in finding resources, especially oil & gas. Result: an ever expanding set of technologies including seismic for determining the actual physical properties of commercial deposits of hydrocarbons without drilling. Though drilling is determinate, the reduction in the risk of finding hydrocarbons through drilling has been greatly reduced. Another result is that hard to find large deposits of deeper hydrocarbons have become more completely known through various technology tools and their advanced application.
As a result, the overall costs of discovery have been greatly reduced through higher success rates of drilling a discovery on the first attempt. Using a significant number of these tools to provide multiple data sets of different types of geoscience that are integrated and interpreted into one Reservoir Model of a probable discovery can provide sufficient knowledge for a “go/no go” decision point for drilling with a higher degree of success.
A group of industry professionals and companies with one, if not the most, important Tool Kit of exploration technologies in the industry have banded together as Insight Exploration to conduct hydrocarbon discovery and project development on a global basis (starting with the Eastern Mediterranean).
The Insight Tool Kit and Methodology provides reduced damage to the environment, resulting in reduced site damage due to less exploration and development activities, more accurate drilling to make discoveries and fewer wells (fewer exploration wells as dry holes and fewer development wells as a result of more efficient production practices). Insight Exploration LLC is the most efficient and environmentally sensitive and capable oil and gas exploration company.