Page 19 - LatAmOil Week 25

LatAmOil NEWS IN BRIEF LatAmOil

Other capital projects, including further expan- to a single seismic project may reach tens of ter-
sion of the central processing facilities and abytes, more than the capacity of the HDs of a
drilling an additional water disposal well, are current desktop computer.
currently deferred. The investment in HPC reduces the costs
Appointment of Broker: The Company has with this type of processing. In addition, with
announced the appointment of Auctus Advisors dedicated supercomputers, it is possible to use
LLP as Joint Broker with immediate effect. Stifel special algorithms developed by Petrobras,
Nicolaus Europe Limited remains as Joint Bro- bringing a competitive advantage capable of
ker and Strand Hanson as Nominated & Finan- increasing the efficiency of exploratory activities.
cial Adviser. Since 2018, Petrobras has reinforced its
PetroTal, June 18 2020 investment in high-performance computers.
This process has been occurring in three waves. was made to store rather than sell its crude, since
The first, last year, resulted in the acquisition of crude prices were at record lows. This steep
TECHNOLOGY Fênix. This year, the company also started to decline in oil prices, which forecasted a fall to as
count on Atlas and Guaricema, the latter dedi- low as $13 a barrel for Brent, was a consequence
Atlas: Petrobras’ cated to the simulation of data generated in the of a glut in the international market as a result
oil and gas reservoirs. With the completion of of several global factors including the slowdown
supercomputer is on the the third wave in 2021, the company will have of economic activity due to the COVID-19 pan-
10 times more HPC processing capacity than it demic and the oil price war between Saudi Ara-
list of the world’s largest had back in 2018. bia and Russia.
While the company delivered strong per-
As a result of this investment, there was a sig-
About 1.5mn smartphones or 40,000 latest nificant reduction in the processing time of geo- formance during the first two quarters of fiscal
generation laptops: The processing capacity of physical data in the geological areas of interest 2019/2020, the rapid decline in prices during the
the Atlas supercomputer is equivalent to these to the company and the application of complex, third quarter was challenging and required swift,
devices, combined. In operation since April, state-of-the-art algorithms. These faster pro- robust but prudent action. Consequently, Her-
at the Centre for Information Processing and cessing and with more efficient algorithms will itage Petroleum optimised the use of all 1.8mn
Treatment (CPTI), in Rio de Janeiro (RJ), Atlas reduce risks and anticipate decisions, increasing barrels of tank storage available in Pointe-a-
occupies the 57th position in processing capac- the economic return of E&P projects. That is why Pierre and Point Fortin until the crude prices
ity of the Top500.org list, released on Monday the arrival of the Atlas and the improvement of recovered sufficiently.
(06/22). The supercomputer is the best ranked the Phoenix will contribute to improve techni- As governments around the world continue
in all of Latin America in the world ranking of cal decisions, since the images generated below to ease restrictions on non-essential travel and
high-performance computers. the seabed will have better definition and will be trade, and with demand for petroleum products
In the previous Top 500 list, from Novem- available in a shorter time. beginning to recover, Brent is now trading at
ber 2019, the title of the largest supercomputer The Director of Digital Transformation and approximately $42 per barrel. As a result, Herit-
in Latin America was Santos Dumont, which Innovation at Petrobras, Nicolas Simone, points age has benefited from this decision to store and
returned to the top position after its processing out that the processing capacity of these com- to resume its sale of crude at much more favora-
capacity was multiplied by five with investments. puters allows the development of strategic pro- ble price and market conditions.
Before that, in the list released in June last year, grammes for Petrobras, such as PROD1000 and Because of this storage strategy, which
the supercomputer Fênix, also from Petrobras, EXP100, accelerating the increase in efficiency allowed for the deferral of the sale of the crude
occupied that position. It today ranks as the sec- in the company. cargo to June, Heritage has earned approxi-
ond most powerful in Latin America, at number “The intensive use of artificial intelligence mately TTD88mn ($13.02mn) over and above
83 on the list. and large computational capacities guarantee what it would have received for just one cargo
Atlas and Fênix are part of a team of several an expansion of the level of data processing that of crude if this had been sold at April/May Brent
supercomputers that perform different func- would be impossible to achieve without these prices.
tions in the company. The two high-perfor- technologies,” concludes the director. Last week’s sale and the successful imple-
mance computers (HPCs), are responsible for Petrobras, June 23 2020 mentation of the storage strategy was no small
processing geophysical data generated during feat and was the culmination of the support and
exploration and development activities for gas cooperation of its employees, contractors and
oil production. Together, they have the process- TRADE the wider Trinidad Petroleum Holdings Ltd
ing capacity equivalent to 2.5mn smartphones or (TPHL) Group. While it is expected that it will
67,000 new laptops. Heritage Petroleum take some time for the global oil industry to fully
So much processing power is needed to create recover from these unprecedented times, Her-
the representative images of geology below the resumes oil exports itage continues to closely monitor the markets
seabed, where the layers of salt are and, there- and work to ensure that the value gained from
fore, the oil reservoirs. The seismic images, fun- from Trinidad and Tobago the export and sale of the country’s crude is fully
damental to the findings on oil and gas, cover maximised.
hundreds of square km and reach thousands Heritage Petroleum Co. Ltd is pleased to report Heritage Petroleum is committed to fulfill-
of metres in depth. That is why the algorithms that oil exports have been resumed with the sale ing its mandate and being a source of pride for
that process them involve complex mathemati- and export of 550,000 barrels of crude on June Trinidad and Tobago by focusing on profitability,
cal equations, with an immense volume of data, 19, 2020. This was the company’s first cargo sale operational excellence and being a performance
generating images that geologists and geophys- since April 30, 2020. driven oil and gas company.
icists can interpret. The volume of data related During the two-month interval, the decision Heritage Petroleum, June 23 2020

Week 25 25•June•2020 www. NEWSBASE .com P19