Report

Offshore Oil & Gas Seismic Survey Market: Development, Opportunities and Market Outlook (2016-26)

In the early days, exploration was generally conducted by hit and trial method assuming the subsurface geology to be same as that of nearby offset wells. With the oil & gas companies bending towards digital oilfield technology to create smart wells, advanced offshore seismic tools have become the most important exploration tool. Seismic surveying is the first tool used to explore oil and gas reserves under the ocean floor. Offshore Seismic Surveying is the combination of science of sound energy and seismology to image the underlying geological structures below the seabed. Seismic surveying requires powerful computers, sophisticated software and specialized skills. The primary advantages of this technology are:

  • Can detect vertical as well as lateral variations in subsurface geology
  • Can easily map various stratigraphic units
  • Produces detailed images of the subsurface
  • Can map the movement of hydrocarbons in the well at any time of an offshore operation
  • In addition to above, the seismic tools can also detect offshore winds.

The offshore oil & gas seismic surveying market was valued at approximately 4 billion USD and is estimated to grow at a CAGR of XX % during the forecast period of 2016-2026.

There are three phases of offshore seismic surveys:

  • Data Acquisition
  • Data Processing
  • Data Interpretation

Offshore seismic surveys require special ships of about 75-90 meters long with a crew of about 30-65 members including mariners, surveyors and engineers. The seismic survey is done with the use of airguns that are towed behind these ships. These guns shoot compressed air of a particular sound energy (measured in decibel) almost as loud as explosives. These seismic waves travel along a line and into the earth. They are reflected by subsurface structures and return back to the surface, where they are detected by detectors known as geophones. The raw data thus obtained is processed using digital technologies and is passed through various processing techniques like filtering, stacking, migrating, etc. to make the seismic data understandable. Processing of data can be time consuming. The results of data processing are interpreted seismic lines and maps that show different geological features beneath the ocean floor. These maps are interpreted by the companies to locate their region of interest including sedimentary basins, faults, salt domes, etc.

Currently, there are three types of seismic survey tools available in the market:

  • 2D seismic survey tools: These tools use one sound source and one set of receivers. It is able to provide only a general image of the geological characteristics including type and size of the substructure.
  • 3D seismic survey tools: These tools use two sound sources and a multiple set of receivers. They provide much detailed information about the geological substructures.
  • 4D seismic survey tools: They can detect changes occurring in the wellbore as a result of constant production and injection operations in the wellbore.

4D seismic surveying is a growing technology in the offshore seismic surveying market and is slowly replacing the other two surveying technologies with constant development. This is because 4D seismic survey provides a higher quality of real time data as compared to the other two tools.

The increase in exploration of unconventional resources, complex lithologies in deeper waters and tracing remaining oil in depleted wells are some of the key factors driving the market. The expensive seismic survey technology in this low oil price time, the inability to handle massive amount of real time data and the developing 4D technology are holding the oil companies to invest in the market. In addition to these, the seismic survey operations affect the marine flora and fauna. Strict environmental concerns have also been one of the restraining factors of the market. Controlling offshore noise pollution, decreasing overall exploration time and costs by effective surveys, handling more amounts of varied data, etc. are some of the opportunities lying in the offshore seismic surveying market.

The profiles and the comprehensive operational study of various key players in the Offshore Oil & Gas Seismic Surveying market like SeaBird Exploration, PGS, PLCS, CGG, Schlumberger WesternGeco, Agile Seismic, Breckenridge Geophysical, Bulroc (UK), Canadian Seabed Research, Canesis Data, etc. have been well analyzed and included in the report.

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By Technology

  • 2D seismic survey
  • 3D seismic survey
  • 4D seismic survey

By Geography

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
  • Rest of the World (ROW)
  • Market overview and forecasting covering Optimistic, Realistic and Pessimistic scenarios (2016-2026)
  • Analysis and study of various services provided by major players active in the Offshore Seismic Survey market
  • Market segmentation based on Technology & Geography
  • Detailed coverage of technology and services involved
  • Technical comparative studies and case analysis
  • Competitive landscape with in depth analysis of the market players’ strategy
  • Infraline’s Techno Managerial edge covering SWOT, TOWS, Porter’s five forces and PESTLE analysis

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