Glasgow, Scotland (PRWEB UK) 19 August 2013
The reservoir simulation expert leading its development has labelled a new software product aimed at the world’s oil sector a ‘game changer’.
Dr Lindsay Wood, research and development director at Sciencesoft Ltd, the award-winning reservoir simulation software company, believes the company’s innovative new product S3sector transforms the way oilfield engineers can work, saving them time and their production companies money.
Dr Wood cites the benefits that he considers make S3sector a ‘must-use’ software package for engineers particularly focusing on enhancing oil recovery (EOR) from existing assets.
With more than 75% of the world’s oil fields now being watered out and the price of oil consistently above $100 a barrel, the focus for operating companies with older assets has turned to using EOR techniques to increase production from older fields.
A main advantage of Sciencesoft’s new powerful reservoir simulation tool is that it allows engineers to create detailed 3D graphic sections of existing full field models in minutes rather than up to three weeks of painstaking work it took before.
The second advantage is that as a result of the speed of the creation of these new sectional field models, oil and gas companies can benefit from increases in productivity and can focus on more EOR projects simultaneously.
Finally S3sector allows engineers to select single or multiple wells from a full field model and then build the new sector model very quickly.
Dr Wood said: “The demand for reservoir simulation has never been higher and this trend shows little sign of slowing down. Simulation of processes ranging from single well models, EOR studies to billion cell models keeps growing and the next five years offer opportunities for companies that maximise productivity through simulation.
“Without question Sciencesoft’s S3sector software package is a game changer – especially in today’s world when producers and governments alike are keen to maximise the return from existing oilfields.”
Sciencesoft – based in Glasgow, UK - recently launched a collaborative project with Glasgow University’s School of Engineering and Science to investigate further advances in reservoir simulation techniques.
The company won a £75,000 grant from the UK government backed Technology Strategy Board for this project.
Dr Wood believes that securing future improved techniques of reservoir solution could revolutionise the production and lifetime of mature assets.
For more information about S3sector and other Sciencesoft reservoir simulation software products see http://www.sciencesoft.com .
BACKGROUND - Based in Glasgow, Scotland, and co-founded by brothers Dr Lindsay Wood and William Wood (the company's sales and marketing director), Sciencesoft Ltd is a world-leader in 3D visualization software for the global oil and gas industry.
The company's innovative expertise helps more than 140 companies in 80 countries – and the network of users is expanding.
The company has won a number of prestigious awards including the Queen's Award for Enterprise for International Trade 2011.
In 2010 Sciencesoft was named as a recipient of one of the John Logie Baird Awards for Impact Through Innovation.
Sciencesoft's mission statement is straightforward to simplify the way reservoir engineers work, enabling them to make multimillion dollar field planning and development decisions.