Elsevier Launches Geofacets Mexico, an Industry First for Bidders in Mexico’s Historic Oil & Gas Block Bid Tender
Vital geological insights accelerate and inform exploration decision making for inaugural bid rounds in Mexico
Elsevier, a world-leading provider of scientific, technical and medical information products and services, today announced the launch of Geofacets Mexico, a special edition of Geofacets, designed to give Oil & Gas companies a competitive advantage in completing Mexico’s Oil & Gas block bidding. This unique, cost-effective offering combines maps, seismic sections and timelines with other valuable data providing vital geological insight into the region. Mexico’s Oil & Gas block bidding round is expected to commence this year, marking the first opportunity for foreign companies to explore, develop and produce oil in the country since the sector was nationalized in 1938. Geofacets Mexico contains vital data from esteemed geological publications that will help organizations to assess the geologic conditions of Mexico, enabling prospective bidders to more confidently identify viable investment opportunities within the region.
Geofacets Mexico provides access to 6,600 geologic maps extracted from journals of renowned organizations including the Geological Society of London, Society for Sedimentary Research, Society of Economic Geologists and the Geological Society of America, as well as Elsevier’s own resources. Additionally, it will include over 80 georeferenced maps extracted from technical reports and documents made available by the Secreteria de Energia, SENER, and from Mexico’s Comisión Nacional de Hidrocarburos (CNH) - the national hydrocarbons commission responsible for supporting the definition and implementation of Mexico's hydrocarbon policy. Furthermore, Geofacets Mexico will incorporate English translations of the Spanish technical reports. Over 5,500 of the maps in Geofacets Mexico are georeferenced, allowing for seamless integration with tools such as ArcGIS™ or Petrel* for further analysis and interpretation.
“With an estimated 3.8 billion barrels of oil reserves and 14.6 billion barrels of prospective reserves, Mexico represents an exciting and unprecedented opportunity for organizations with the knowledge, capability and resources to invest in the region,” said Phoebe McMellon, Elsevier’s Director of Product Management for Geofacets. “Mexico’s Oil & Gas resources have been nationalized for a long time, so having access to the data and information from Geofacets Mexico, in conjunction with external data, allows companies to quickly and confidently assess the subsurface geology to target high potential, low risk areas.”
While 52 ultra-deepwater oil wells have been drilled in the US since 2010, only 5 have been drilled in Mexico in the same time period. Subsequently, companies have little proprietary knowledge of the geology of on-shore Mexico and the Mexican Gulf. As such, companies now need access to the trusted information contained in Geofacets Mexico that will facilitate considerations on the potential for risk and return of exploration in this area.
Geofacets is Elsevier’s premier web-based research tool for geoscientists working in natural resource exploration. Geofacets extracts geologic maps from trusted publications, making content easier to find and integrate with other data. Geofacets Mexico is also available through the Petrel* platform, and via the Geofacets Connector for Petrel* and Studio*.
*trademark of Schlumberger
Geofacets is a geoscience solution that enables seamless search and integration of geologic maps from trusted scientific sources, including georeferenced maps that can be integrated into GIS, modelling and presentation software. Geofacets is used by leading companies in natural resource exploration around the world to support business decisions, assess risk in drilling and development activities and increase exploration productivity. www.elsevier.com/online-tools/geofacets
Elsevier is a global information analytics company that helps institutions and professionals progress science, advance healthcare and improve performance for the benefit of humanity. Elsevier provides digital solutions and tools in the areas of strategic research management, R&D performance, clinical decision support, and professional education; including ScienceDirect, Scopus, ClinicalKey and Sherpath. Elsevier publishes over 2,500 digitized journals, including The Lancet and Cell, more than 35,000 e-book titles and many iconic reference works, including Gray's Anatomy. Elsevier is part of RELX Group, a global provider of information and analytics for professionals and business customers across industries. www.elsevier.com
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