06 December 2019
Visiongain has launched a new energy report The Land Seismic Equipment & Acquisition Market Forecast 2020-2030: Forecast and Analysis by Equipment (Sensors, Sources, Cable Based Acquisition Systems, Wireless Acquisition Systems & Other Equipment) and by Region Plus Profiles of Leading Companies in the Land Seismic Equipment & Acquisition Market.
Land seismic operations are explorations for hydrocarbon resources onshore. Seismic surveys are carried out using waves of energy to help build up an image of an area and the resources beneath.
For E&P and mining industries, land seismic surveys are carried out to generate subsea bottom profiles. This type of surveying is conducted by generating mechanical sound waves that are sent into the earth. The energy reflected back from the earth is measured by recording sensors which are installed in mounted trucks which consist of tapes to record any activity. The land seismic operations require various equipment such as geophones, seismic sensors, streamers, hydrophones, air or water gun, streamers, and sub-bottom profilers.
The recent disruption in oil supply as a result of the Saudi Aramco facilities attacks and their impact in prices, as well as the US shale oil and gas producers revenue shrink have negatively influenced the Land Seismic Equipment & Acquisition Market in 2019, bringing to a halt the short period of development that began in 2017. The market is characterized by stagnation which is expected to maintain until the oil price balances.
The Visiongain report analyst commented "The decision of US shale oil and gas producers to limit their production for 2020 and the in an effort to stabilize the oil price and increase their revenue, as well as the OPEC discussions for further production cuts are expected to play a critical role in the market and restrain the land seismic acquisition activity. The constant increase in energy demand though, especially in China and India, as well as the continual investments in LNG, are expected to dynamically affect the market and boost land seismic acquisition activity, since the oil price becomes less volatile and the production recovers."
Leading companies featured in the report who are involved in Land Seismic Equipment & Acquisition include SA Exploration, Terraseis, Sercel, Terrex Seismic, WesternGeco, Mitcham Industries and others.
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