Published Date : Jun 27, 2017
ALBANY, New York, June 27, 2017: The global seismic surveys market is driven by their application in oil and gas exploration. Seismic surveys help in identifying the size and location of reservoirs and are thus, very important for the oil and gas sector. Players in the global seismic survey market are focusing on collaborations with other companies to sustain in the market, states a new report published by MarketResearchReports.biz. The report is titled “Global Seismic Survey Market: Industry Analysis & Outlook (2017-2021).”
Many players are striving to rationalize costs and recoup profitability by shelling out more capital for the development of innovative forms of seismic surveys. This is expected to boost the growth of this market in the forecast period. The trend of 4D seismic survey technology is gaining traction rapidly and will remain so in the coming years. Since 4D technology takes into consideration components such as width, depth, height, and also time, this technology is increasingly being adopted in the oil sector, in the production and exploration domains.
The report is an overview of the market and gives details such as the definition, classification, and application of the seismic market. The market is studied at the global as well as the regional level, thus giving an idea to users about the market size for each region as well as for the whole market worldwide. The key segments of the market has been studied in detail, including the size of the segments at present and the predicted size for the years to come and factors responsible for the growth or decline for the segments. Thus, readers get a clear idea about which segment to invest on, so as to reap maximum profit. In addition to this, the report studies the key factors boosting the growth of the overall seismic survey market and those that threaten to hamper the progress of the same.
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The global seismic survey market may face challenges in terms of the slashed exploration budgets and increasing debts. The decreased exploration allocation and renegotiation of seismic vessel prices by players operating in the exploration and production companies will also hamper the growth of the market. On a brighter note however, smart choices made in regards to portfolios and reduced costs will help players to recover from these issues discussed above, states the lead author of this report. In the years to come, novel discoveries will become vital and are anticipated to boost the output of oil. This will help the seismic survey sector to recover.
Leading players in the market include: Seismic Surveys, Inc., BTW Company Ltd., Spectrum ASA, Breckenridge Geophysical, Polaris Seismic International, MMA Offshore Limited, Kuwait Oil Company, Terraseis, LoneStar Geophysical Surveys, Dolphin Group ASA, TerraSond, SeaBird Exploration Group, and Petroleum Geo-Services.
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