Our Foundation
We have hundreds of years of energy and technology experience – generating, interpreting, editing, and using subsurface as well as surface data in subsurface characterization and natural resources development.
Our experts have practical experience in geotechnical data management, optimization adapting to evolving technologies, and analysis using scalable AI/ML (Augmented Intelligence and Machine Learning) techniques supporting decision-making.
We have experience in designing, managing, and delivering large projects in IOCs and NOCs
Our team members have experience leading the most prominent energy technology and information businesses in the world (IHS, Schlumberger), have advised others (Wood Mackenzie), as well as PE (Warburg Pincus, Goldman Sachs PE)
Our technology is developed by one of the most advanced cloud software engineering firms
Products
Presently, U3 EXPLORE- Venezuela team has the following collaborative and peer-reviewed products available for purchase and/or use in the consulting engagements:
- Remaining hydrocarbon resources of the Lake Maracaibo Basin- compilation and analysis of all producing properties and potential exploration targets.
- Remaining hydrocarbon resources of the Eastern Venezuelan Basin- compilation and analysis of all producing properties and potential exploration targets.
- CCUS opportunities in the Faja region- analysis of EOR (Enhanced Oil Recovery) methodologies applicable under local geologic conditions for profitable oil recovery.
- Play-based exploration opportunities in Southern Caribbean – regional geology analysis incorporating newest drilling results
- Faja EOR (Enhanced Oil Recovery) collaborative exercise discussions and reports are developed to compare with Canada heavy oil sand and heavy oil reservoir in Colombia
Sustainable Development Data Center - SDDC Progress Report
U3 Explore Venezuela Project aims to deliver an SDDC (Sustainable Development Data Center) - a digital repository of accurate and validated knowledge of Venezuela’s oil & gas industry. The vision of SDDC is to be a go-to digital library for the validated data and analytical derivatives of these data to facilitate decision-making in energy transition and natural resources development in Venezuela. This project is running for more than two years and is focused on the assessment of the extent of digitalization needed to collect and validate publicly and privately available data and interpretations.
So far, Venezuelan subject matter experts (SMEs) have contributed 11000 hours, collaborating on the definition of the priority areas, identifying critical knowledge to be preserved, and splitting the tasks into specific projects with a clear scope of work. Eighty-five people have directly contributed to the project, providing classification and validation of public information and documentation.
More than 150 team meetings and individual interviews were carried out with leading specialists in the field, subject matter experts passionate about Venezuelan geoscience and oil and gas development, politicians, private companies, and non-profit organizations. In these meetings, we explained our vision of the project and opportunities to collaborate and contribute to the sustainable development of Venezuelan natural resources.
Currently, 76 topics for subsurface and surface characterization are defined, such as subsurface resource potential, surface infrastructure, conditions for renewable energy projects, geographic, geodetic, legal (contracts),commercial (current state of Capex/Opex of the assets), and environmental (Bioremediation) workstreams.
COVID19, the political crisis, and the US sanctions create an exceedingly difficult time for Venezuelans. In the country with the most significant proven oil reserves in the world, 302, 81 billion barrels (OPEC,2019) and more than 75% of proven reserves without being developed, successful economic recovery depends on environmentally sustainable reactivation of the oil and gas, mining, and agricultural industries.
Path Forward
U3 EXPLORE Venezuela is moving into the third year and has the following goals for 2022:
- Secure a project owner and funding
- Deliver peer-reviewed and validated projects using virtual collaboration of experts in Northern South American geology, oil and gas industry, industrial geoscience projects, and natural resources development
- Provide on a job topical project mentorships and collaboration.
- Frame existing and future projects in light of the Net-Zero carbon goals by 2050
We continue to collect business intelligence, analyze international markets for oil and gas professionals, and redeploy our skills indifferent industries.
Our path forward in 2022 is based on the project crowd-sourcing model, empowered by the best people with industry and academic experience and knowledge of local geology and business challenges.
We collaborate with Venezuelan Universities, for-profit,non-profit, professional organizations, and individuals who actively contribute their expertise and resources to the sustainable development of natural resources.
We focus on feasibility studies in subsurface Carbon Sequestration projects.
