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Seismic Survey Market, By Type, and Application - Global Industry Insights, Trends, Outlook and Opportunity Analysis, 2017-2025

10-12-2017 03:35 PM CET | Energy & Environment

Press release from: Seismic Survey Market

Seismic Survey Market

Seismic Survey Market

Seismic survey is the method used to investigate geological properties of earth and is majorly used to explore natural gas, petroleum, and mineral deposits. Data acquisition, processing, and interpretation are the three phases of seismic survey. This technique determines the time interval between the initiation of waves at a shot point and the arrival of reflected or refracted waves by the seismic detectors. For the initiation of seismic waves air guns, dynamite blast, seismic vibrator, and various other techniques are used. Weight dropping technique has replaced dynamite blast, owing to its inefficient operation coupled with government regulations. The amplitude and time are recorded on arrival of these waves at the detector. The time taken by wave takes to return to the surface gives several information such as types of rocks, possible fluids, and gases in the formation providing a detailed image of the subsurface and the location of oil and gas reserves. In offshore operations, seismic streamer are used to compressed air for transmitting acoustic energy and hydrophones to capture the sound waves.
Seismic survey is not harmful for the locality as well as to marine environment. Transportation of workers, building roads, clearance of vegetation for setting an equipment, and disturbance of habitat are the challenges faced by companies. The noise produced from seismic source may injure or disturb the marine animals.

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Global Seismic Survey Market Taxonomy:

On the basis of type, the global seismic survey market is segmented as:
2D seismic survey
3D seismic survey
4D seismic survey
Wireless seismic survey
Flip-Flop
Slip-Sweep
Others
On the basis of application, the global seismic survey market is segmented as:
Onshore
Offshore

2D high-resolution seismic survey are widely used in mining. 3D seismic survey are also gaining importance in seismic survey market. The 3D seismic survey is estimated to hold the largest share in seismic survey market in oilfield geological activity, as they provide clear and continuous images of the subsurface features. According to Petroleum Geo-Services, the 3D seismic survey demand in 2006 has incremented up to 120% by the fourth-quarter of 2012 calculated by square km.
Onshore production facilities are dominating the market as compared to offshore production facilities. Offshore facilities is finding its way in North America, Europe, and Africa.

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Global Seismic Survey Market Outlook:

North America is projected to be the largest market in seismic survey market. Increase in shale explorations has increased the seismic survey activity in this region. Offshore shallow water, deep water exploration, and production activities especially in Gulf of Mexico have given tremendous pace to seismic survey market in this region. Western GeCo has completed 3D seismic survey of about 2,550 square km in offshore of Guyana for Eco Oil and Gas Ltd. and Tullow Oil Company in Latin America.
Asia Pacific and Europe are accounted to have significant growth in the seismic survey market. According to the U.S. geological survey circular, over the past few decades there was 90% of oil and 60% of gas in offshore fields in Europe. 3D seismic surveys are widespread in mining activity in Europe.

According to the statistics of petroleum exploration, the offshore fields in Middle East contain one fifth of oil and one third of gas in the region contributing to a large share in the seismic survey market. Africa is one of the leading market in seismic survey, owing to increasing E&P activities especially in the offshore basins. Tomlinson Geophysical Services are extending 3D survey off Angola that covers 4064 km. Seismic survey in mineral exploration have been carried out at a large scale in South Africa.
Key players operating the seismic survey market are BTW Company Ltd., Breckenridge Geophysical, Spectrum ASA, Polaris Seismic International, Kuwait Oil Company, MMA Offshore Limited, Terraseis, Dolphin Group ASA, Seismic Surveys, Inc., LoneStar Geophysical Surveys, TerraSond, Petroleum Geo-Services, and SeaBird Exploration Group.

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About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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