Thanks to the Kaleidoscope Project, the techniques for finding deposits are now faster and more accurate. The Kaleidoscope project was launched in 2007 as a combination of science and cutting-edge technology. And with it, at Repsol we are discovering new reservoirs of oil and gas while respecting the surrounding environment.
We have created technology to process information significantly faster than other companies in the industry. With this technology we create seismic images to "see" the Earth’s interior and analyze whether there are hydrocarbons present without drilling into its crust. It increases the reliability of the seismic images, boosting the chances of finding oil and gas thousands of meters beneath the subsoil. This technology has placed our Company at the forefront of the exploration of complex zones and large reserves, such as the Gulf of Mexico and Brazil. It has been estimated that the equivalent of 100 million barrels of oil is hidden there.
To make this project a reality, Repsol has employed the services of some of the best geophysicists, mathematicians, geologists, and engineers in Spain and the United States. The Kaleidoscope project was designed by our Tech Lab in conjunction with 3D-GEO, a leading company in obtaining seismic images, and the Barcelona Supercomputing Center: home to MareNostrum, one of the most powerful supercomputers in Europe. Repsol has also worked on this advanced program with IBM, the Higher Center for Scientific Research, the Polytechnic University of Catalonia, and Stanford University.
Kaleidoscope has been considered one of the five most innovative projects in the world by the U.S.-based Institute of Electrical and Electronics Engineers, a well-known organization that monitors new technologies. It has received the Platts Award, a prize for innovation given by Petroleum Economist magazine. Additionally, the magazine Computer World has recognized Repsol for this project and we have been named finalists at the Annual Creativity in Electronics Awards.