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Global Offshore Oil and Gas Seismic Equipment and Acquisitions Market 2016-2020

Global Offshore Oil and Gas Seismic Equipment and Acquisitions Market 2016-2020

About Offshore Oil and Gas Seismic Equipment and Acquisitions

Seismic systems are primary equipment used by oil and gas companies for exploration. These systems are used to create a shock wave on the surface of the ground along a predetermined path to conduct preliminary survey. During the survey, the seismic waves indicate the geological nature of the area and the possibility of oil or gas reserve.

Technavio’s analysts forecast the global offshore oil and gas seismic equipment and acquisitions market to grow at a CAGR of 7.74% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global offshore oil and gas seismic equipment and acquisitions market for 2016-2020. To calculate the market size, the report discusses the major drivers influencing the market growth and the challenges faced by vendors and the market as a whole.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Offshore Oil and Gas Seismic Equipment and Acquisitions Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • SeaBird Exploration
  • PGS
  • PLCS
  • CGG
  • Schlumberger WesternGeco
Other prominent vendors
  • Agile Seismic
  • Breckenridge Geophysical
  • BTW
  • Bulroc (UK)
  • Canadian Seabed Research
  • Canesis Data
  • Daqing-Denver
  • Dawson Geophysical
  • dGB Earth Sciences
  • DSPGeo
  • Energold Drilling
  • FairfieldNodal
  • GEODATA
  • GeoEnergy
  • Geophysical Insights
  • GeoTomo
  • Grant Geophysical
  • GRISYS Seismic Data Processing
  • Lynx Information Systems
  • Mitcham Industries
  • MMA Offshore
  • Nelvik Norsk Hydro
  • OpendTect
  • Parallel Geoscience
  • Polaris Seismic
  • Pulse Seismic
  • Searcher Seismic
  • Seismic Equipment Solutions
  • Spectrum
  • Terraseis
  • TerraSond
  • Voxel Terra Vision (VTV)
Market driver
  • Migration of drilling into unconventional areas.
  • For a full, detailed list, view our report
Market challenge
  • Decreasing investment in oil and gas industry.
  • For a full, detailed list, view our report
Market trend
  • Introduction of 4D Seismic survey technology.
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Offshore Oil and Gas Seismic Equipment and Acquisitions Market 2016-2020

Technavio recognizes the following companies as the key players in the global offshore oil and gas seismic equipment and acquisitions market: SeaBird Exploration, PGS, PLCS, CGG, and Schlumberger WesternGeco.

Other Prominent Vendors in the market are: Agile Seismic, Breckenridge Geophysical, BTW, Bulroc (UK), Canadian Seabed Research, Canesis Data, Daqing-Denver, Dawson Geophysical, dGB Earth Sciences, DSPGeo, Energold Drilling, FairfieldNodal, GEODATA, GeoEnergy, Geophysical Insights, GeoTomo, Grant Geophysical, GRISYS Seismic Data Processing, Lynx Information Systems, Mitcham Industries, MMA Offshore, Nelvik Norsk Hydro, OpendTect, Parallel Geoscience, Polaris Seismic, Pulse Seismic, Searcher Seismic, Seismic Equipment Solutions, Spectrum, Terraseis, TerraSond, and Voxel Terra Vision (VTV).

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is introduction of 4D seismic survey technology. The expenditure on exploration in deeper waters and the value of remaining oil in existing fields are a few of the drivers of seismic technology development. Seismic technology is used by petroleum geophysicists and geologists to interpret and map potential hydrocarbon reserves. The scale and size of seismic surveys have enlarged alongside the upsurge in computing power during the past 25 years. 3D technology considers oil and gas reserves as a cube along with its height, width, and depth. On the other hand, 4D technology adds one more component, i.e., time, which shows how a reservoir will change over a time period. The acceptance of the 4D seismic technique in the oil industry, both in production and exploration, is growing. This indicates that the 3D exploration lapse time and reservoir monitoring, as a tool to minimize drilling risk and to maximize the ROI, are coming of age.”

According to the report, one driver in the market is increase in E&P activities post seismic survey. Finding and developing resources to meet the global demand for oil and gas have been a challenge for the E&P companies. In the early days, deciding where to drill was based on the surface geology and hunch and these were called wildcat drilling. Such drilling was expensive, results unpredictable, and in some of the cases the impact on the environment was devastating. Later, companies started to use scientific knowledge to undertake drilling activities. They used techniques such as geological mapping, geo chemical analysis, and seismic surveys technologies. As an exploration technique, seismic surveys were remarkably successful. Experts consider 3D seismic survey as a top technology that had a greater impact on the E&P industry. After the implementation of the 3D seismic survey technology, the success rate of drilling a well has increased by 70%.

Further, the report states that one challenge in the market is seismic vessel overcapacity problem. Even before the oil price dropped, the seismic survey sector was facing problem such as vessel overcapacity. To cut competition the industry had responded by introducing new technologies and techniques to add value, standout, or entice customers. But, then the price of oil dropped rapidly and this was followed by reductions in exploration spending and uncertain market conditions. After the global downturn in the oil and gas industry due to decline in crude oil prices, the seismic surveys companies started having overcapacity problem. The number of marine seismic vessels and crews available each year to perform seismic surveys was more when compared with what was required taking into consideration the number of surveys planned.



Companies Mentioned

SeaBird Exploration, PGS, PLCS, CGG, Schlumberger WesternGeco ,Agile Seismic, Breckenridge Geophysical, BTW, Bulroc (UK), Canadian Seabed Research, Canesis Data, Daqing-Denver, Dawson Geophysical, dGB Earth Sciences, DSPGeo, Energold Drilling, FairfieldNodal, GEODATA, GeoEnergy, Geophysical Insights, GeoTomo, Grant Geophysical, GRISYS Seismic Data Processing, Lynx Information Systems, Mitcham Industries, MMA Offshore, Nelvik Norsk Hydro, OpendTect, Parallel Geoscience, Polaris Seismic, Pulse Seismic, Searcher Seismic, Seismic Equipment Solutions, Spectrum, Terraseis, TerraSond, and Voxel Terra Vision (VTV).

  • Executive summary
    • Highlights
  • Scope of the report
    • Table Types of marine equipment by technology
    • Table Key countries in each region
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
      • Table Different stages in the typical petroleum value chain
      • Table Stages in oil and gas upstream activities
      • Table Overview of offshore seismic survey
      • Table Typical steps involved in seismic survey process
      • Table Seismic survey categories
      • Table M&A in offshore oil and gas seismic equipment market in the US for the E&P industry in 2013-2015
  • Market landscape
    • Market overview
      • Table Segmentation of global offshore oil and gas seismic equipment and acquisitions market
    • Market size and forecast
      • Table Global offshore oil and gas seismic equipment and acquisitions market 2015-2020 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by type and services
    • Global offshore oil and gas seismic equipment and acquisitions market by application
      • Table Global offshore oil and gas seismic equipment and acquisitions market by type and services 2015 and 2020 (%)
      • Table Global offshore oil and gas seismic equipment and acquisitions market by type and services 2015-2020 ($ billions)
    • Global offshore oil and gas seismic equipment and acquisitions market by 2D seismic survey segment
      • Table Global offshore oil and gas seismic equipment and acquisitions market by 2D seismic survey 2015-2020 ($ billions)
    • Global offshore oil and gas seismic equipment and acquisitions market by 3D survey segment
      • Table Global offshore oil and gas seismic equipment and acquisitions market by 3D survey 2015-2020 ($ billions)
    • Global offshore oil and gas seismic equipment and acquisitions market by 4D seismic survey segment
      • Table Global offshore oil and gas seismic equipment and acquisitions market by 4D seismic survey 2015-2020 ($ billions)
  • Geographical segmentation
    • Global offshore oil and gas seismic equipment and acquisitions market by geography
      • Table Global offshore oil and gas seismic equipment and acquisitions market by geography for 2015 and 2020 (%)
      • Table Global offshore oil and gas seismic equipment and acquisitions market by geography 2015-2020 ($ billions)
    • Offshore oil and gas seismic equipment and acquisitions market in the Americas
      • Table Offshore oil and gas seismic equipment and acquisitions market in the Americas 2015-2020 ($ billions)
      • Table The US offshore rig count 2015 and 2016
    • Offshore oil and gas seismic equipment and acquisitions market in APAC
      • Table Offshore oil and gas seismic equipment and acquisitions market in APAC 2015-2020 ($ billions)
    • Offshore oil and gas seismic equipment and acquisitions market in EMEA
      • Table Offshore oil and gas seismic equipment and acquisitions market in EMEA 2015-2020 ($ billions)
  • Market drivers
    • Increase in E&P activities post seismic survey
      • Table Historical trend of E&P activities after implementation of seismic surveys
    • Migration of drilling into unconventional areas
      • Table Shifting bases of hydrocarbon exploration
    • Focus on reduction of non-productive time
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Seismic vessel overcapacity problem
    • Decreasing investment in oil and gas industry
    • Global downturn in oil industry and crude oil prices
      • Table Global crude oil price discrepancy from 2007-2016 ($/bbl.)
    • Reduction and optimization of seismic survey cost
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Introduction of 4D seismic survey technology
      • Table Evolution of seismic survey techniques
    • Digitization of oil fields
      • Table Evolution of digital oil field
      • Table Overview of digital oilfield technologies
      • Table Evolution of oil field technology in digital oilfield domain 2000-2013
    • Seismic integration to reduce exploration risk
  • Vendor landscape
    • Competitive scenario
    • Other prominent vendors
  • Key vendor analysis
    • SeaBird Exploration
      • Table SeaBird Exploration: Business segmentation by client type 2015
      • Table Vessel utilization of SeaBird Exploration 2014-2015 (%)
      • Table SeaBird Exploration: Business segmentation by region 2015
      • Table SeaBird Exploration: Key product offerings
    • PGS
      • Table PGS: Business segmentation by revenue 2015
      • Table PGS: Business segmentation by revenue 2012-2015 ($ millions)
      • Table PGS: Product portfolio
    • PLCS
      • Table PLCS: Business segmentation by client type 2015
      • Table PLCS revenue comparison 2014 and 2015 ($ millions)
      • Table PLCS: Business segmentation by region 2015
      • Table PLCS: Key product offerings
    • CGG
      • Table CGG: Business segmentation by client type 2015
      • Table CGG revenue comparison 2013-2015 ($ millions)
      • Table CGG: Business segmentation by region 2015
      • Table CGG: Key product offerings
    • Schlumberger WesternGeco
      • Table Product portfolio
  • Appendix
    • List of abbreviations
  • Explore Technavio

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