Marine seismic equipment market to be worth $931m in 2014, spending on acquisition to be $7,068m

LONDON - Oct. 17, 2014 - PRLog -- LONDON, UK. 15^th October 2014:Visiongain (http://www.visiongain.com/Content/3/About-Us)’s analysis indicates that the marine seismic equipment and acquisition markets will reach a value of $931m and $7,068m respectively in 2014.  The marine seismic industry is a cautious one and has suffered a recent slowdown since the end of 2013, but the industry is forecast to grow incrementally over the next decade.

Marine seismic is the first step toward locating and mapping a hydrocarbon reservoir.  There are different methods for marine seismic data acquisition, with 3D seismic the most popular.  Increasingly, production-stage seismic is being employed as part of the method for enhancing hydrocarbon recovery from producing reservoirs—this is leading to growth of the 4C seismic equipment and acquisition market.

There is high demand to increase data fidelity, enhance resource recovery, and exploit emerging offshore developments, such as East Africa and the Arctic, and these factors are driving growth in the industry.

The visiongain lead analyst of the report commented that, ‘spending in the marine seismic equipment markets will be steady over the next ten years.  There is scope for technological innovation, increasing efficiency and greater appreciation of time when acquiring seismic data.  Oil price trends over the next decade will determine spending within these markets to some extent, but geographical locations with a need for more seismic data will also be a major driver of the geography of this spending.’

Visiongan’s outlook for marine seismic in the medium term is positive.  Spending on both equipment and acquisition will experience a greater degree of stability than previously. This is because confidence in the oil price looks set to continue, new technologies are required to enhance operational efficiency and data fidelity, production-stage seismic is becoming more important and the subsurface of emerging offshore spaces, such as Brazil, needs to be more intensively and extensively imaged.

Oil prices and E&P CAPEX are the two benchmarks seen as key to determining the future of the marine seismic markets.  Recent oil price declines have affected the marine seismic industry, but in recent years E&P CAPEX spending has increased each year and been directed offshore.  Nonetheless, visiongain expects the marine seismic industry will record steady growth over the next ten years.

Visiongain’s 174 page report contains 93 tables, charts and graphs that add visual analysis in order to explain developing trends within the marine seismic equipment and acquisition markets. Visiongain provides individual global forecasts, in terms of capital expenditure (US$), on marine seismic equipment and acquisition for the period 2014-2024. In addition to these global forecasts, there are five equipment submarkets individually analysed and forecasted: 2D marine seismic equipment, 3D marine seismic equipment, 4C marine seismic equipment, Sources and associated command and control systems, and Streamers and associated command and control systems.

The report also features a CAPEX breakdown for 11 regional marine seismic acquisition markets, as well as an interview with a key industry expert from Dolphin Geophysical, who provides insight into the overall industry and current market trends. A company chapter provides detailed analysis and outlook for the leading publicly-listed marine seismic operators, including market share breakdowns.

The Marine Seismic Equipment & Acquisition Markets 2014-2024: Offshore Seismic Surveys for Oil & Gas E&P; 2D, 3D & 4C Vessels & Equipmentreport will be of value to current and potential future stakeholders and/or investors in the marine seismic industry. It will also benefit companies and research centres that wish to broaden their knowledge and understanding of a niche market that is critical to the development of offshore resources worldwide.

For sample pages and further information concerning the visiongain report Marine Seismic Equipment and Acquisition Markets 2014-2024: Offshore Seismic Surveys for Oil & Gas E&P; 2D, 3D & 4C Vessels & Equipment please visit https://www.visiongain.com/Report/1334/Marine-Seismic-Equipment-Acquisition-Markets-2014-2024

For an executive summary please contact:
Email: Sara Peerun on sara.peerun@visiongainglobal.com

Tel: +44 (0) 20 7336 6100

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongainglobal.com or call her on +44 (0) 207 336 6100

About visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, visiongain produces a host of business-2-business conferences, newsletters, management reports and e-zines focusing on the Energy, Telecoms, Pharmaceutical, Defence, Materials sectors.

Visiongain publishes reports produced by its in-house analysts, who are qualified experts in their field. Visiongain has firmly established itself as the first port-of-call for the business professional, who needs independent, high quality, original material to rely and depend on.