Shearwater buys equity stake in Swiss provider of 3D imaging services

Norway’s Shearwater GeoServices and Switzerland’s Mondaic have united to develop and use full waveform inversion (FWI) solutions to enhance high-resolution subsurface imaging and optimize seismic acquisition surveys. 

The FWI, a seismic data processing technology, enhances subsurface structure visualization, improves reservoir comprehension, and facilitates more efficient survey planning and execution, said Shearwater. 

As a part of this agreement, Shearwater now holds exclusive and perpetual rights for utilizing and advancing Mondaic’s wavefield simulation and inversion codes and has also obtained an equity stake in the company. 

Mondaic will be dedicated to expanding the use of jointly developed codes for ultrasonic non-destructive testing, material characterization, medical imaging, and other non-subsurface applications.

“This is an important partnership, embodying Shearwater’s dedication to creating and implementing cutting-edge technology and software to the benefit of our clients,” said Simon Telfer, SVP Software, Processing, and Imaging at Shearwater. 

“Holding a leading position as a processing and imaging service provider and further expand the capabilities of our proprietary processing and imaging software Reveal are central components of Shearwater’s strategy.”

One of the most important aspects is the ability to estimate detailed subsurface property models in complex geological areas with minimal human intervention. This technology is anticipated to be crucial for characterizing and monitoring subsurface carbon storage sites and conducting site surveys for wind farms, said Shearwater.

During 2024, Shearwater plans to gradually transition from its current acoustic finite differences FWI to Mondaic’s elastic spectral elements code, known for its precise modeling of subsurface wavefields and waveforms.

“Due to its unlimited modelling capabilities, this technology offers a higher level of inversion precision than conventional approaches. It is not only computationally efficient but also scalable, catering to a wide range of needs and complexities,” said Sergio Grion, Chief Geophysicist, Processing Technology at Shearwater.

Recently, Shearwater won two 4D monitoring projects from Norwegian state-owned energy giant Equinor for the Mariner field in the UK North Sea and the Heidrun field in the Norwegian Sea. 

Shearwater plans to utilize the Isometrix technology for conducting surveys, employing 4D seismic monitoring to observe reservoir dynamics over time.