Seismic Survey Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth & Forecast : 2024

Increasing exploration activities owing to the efforts of oil and gas companies to locate new oil and gas reserves is expected to drive the global seismic survey market during the forecast period. Oil and gas companies use seismic surveys to map and interpret potential petroleum reserves.

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Petroleum geologists and geophysicists estimate the size and location of the underground oil and gas reserves. Seismic survey is the primary tool of exploration companies. A seismic survey is conducted by creating a shock wave on the surface of the ground along a predetermined path using an energy source. Seismic waves are created using vibrating plates and explosive. The waves are reflected back to the surface due to the density variation between the rocks. The speed and strength of the waves indicate the geological features. Land, transition zone and marine are the primary environments for seismic survey. The land environment covers almost every type of terrain such as desert, forest, mountains and arctic. Transition zone is the area where the land meets the sea. The shallow water in the transition zone provides a challenge for the seismic company as the large seismic vessel cannot enter the shallow water. Moreover, the water is too deep for using conventional methods that are used for land surveying. Marine survey includes the deep water areas such as ocean and seas. Land surveys tend to be large entities, requiring hundreds of tons of equipment and employing hundreds of people to cover a vast area. In marine surveys, specially equipped vessels are used that tow one or more cables. These cables are known as streamers and contain a series of hydrophones at regular interval. For a 2D survey, only 1 streamer is required whereas for a 3D survey, 10 to 12 streamers are required.

The global seismic survey market can be segmented on the basis of technology into 2D survey, 3D survey and 4D survey. In a 2D survey, both the sound source and the sound detectors are move along a straight line. In a 3D survey, the sound detectors are spread out over an area and the sound source is moved from location to location throughout the area. In a 4D survey, the process of 3D survey is repeated at two or more time intervals. Mapping the fluid movement in oil and gas reserves is the primary application of a 4D survey. The size and scale of seismic surveys have increased significantly in the past three decades. The use of new and improved technology for interpretation has improved the accuracy of the result. On the basis of application, the global seismic survey market can be segmented into land survey and marine survey.

Increasing investments by oil and gas companies to meet the increasing energy demand is proving to be a boon for the global seismic survey market. The exploration companies are keen to locate new oil and gas reserves as the current reserves are depleting.

Some of the key companies in the global seismic survey market are SeaBird Exploration Group, Petroleum Geo-Services, TerraSond, LoneStar Geophysical Surveys, Seismic Surveys, Inc., Dolphin Group ASA, Terraseis, MMA Offshore Limited, Kuwait Oil Company, Polaris Seismic International, Spectrum ASA, Breckenridge Geophysical and BTW Company Ltd. among others.

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