Marine Seismic Market To Register Capital Expenditure Of $273m On Equipment And $2,703m On Acquisition In 2016, Says Visiongain Report

07 September 2016
Energy

Visiongain’s new 184-page Marine Seismic Equipment & Acquisition Markets 2016-2026: Offshore Oil & Gas Seismic Surveys with 2D, 3D & 4C Equipment & 2D, 3D, OBS, Proprietary & Multi Client Acquisition report indicates that the marine seismic market will see CAPEX of $273m on equipment and $2,703m on acquisition in 2016.

The lead analyst of the report said: “The fall in the price of oil has caused oil companies to react by cutting exploration investments. This in turn has resulted in marine seismic acquisition companies making major spending cuts in order to remain profitable during this market downturn. Recovery in the marine seismic market will occur in line with the recovery of the oil price. Seismic data acquisition is expected to recover faster than the equipment market as companies can seek opportunities in both multi client and proprietary work to utilise the availability of vessels and equipment.

“Spending in the marine seismic equipment and acquisition markets is a segment of overall E&P CAPEX. This usually follows the price of oil as this determines the rate of return on production. The marine seismic equipment and acquisition markets are important to follow as spending and trends within these markets indicate future locations for drilling and resource exploitation. CAPEX directed at marine seismic equipment or data acquisition has often been used as a sign for the health of oil and gas E&P spending.

“The oil price fall in late 2014 caused a rapid fall in CAPEX in the equipment market, and there are no new vessels orders in 2016. Over the next ten years the 4C equipment submarket is expected to grow as there is demand for more production-stage seismic data and enhanced oil recovery, and the cost of streamers and control systems will become an increasingly important cost of the equipment. Adding streamers to existing vessels and applying the most advanced associated systems is expected to be the most cost-consuming investment on future vessels.

“With regards to acquisition activity, the oil price fall will hold this back and decrease vessel utilisation rates. With a steady recovery of oil prices anticipated in the following years, seismic acquisition activity is also expected to follow the same trend but will also be affected by the cyclical nature of the exploration market.”

The 184 page report contains 117 tables, charts and graphs that add visual analysis in order to explain developing trends within the marine seismic market. Visiongain provides annual CAPEX forecasts and analysis for the period 2016-2026 for the global market. 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). There are also five seismic acquisition submarkets (multi client data acquisition, proprietary data acquisition, 3D data acquisition, OBS data acquisition, 2D data acquisition). The acquisition market analysis also includes ten-year forecasts on a regional basis for Asia Pacific, Europe, Africa, North America, South America, Russia, and the Middle East.

An interview with PGS provides insight into the overall industry and current market trends. A companies chapter provides analysis and outlooks for the five leading marine seismic operators, and details all the major operators in the market.

The Marine Seismic Equipment & Acquisition Markets 2016-2026: Offshore Oil & Gas Seismic Surveys with 2D, 3D & 4C Equipment & 2D, 3D, OBS, Proprietary & Multi Client Acquisition report will be of value to existing and potential stakeholders and investors in the marine seismic sector. It will be useful for stakeholders already involved in the industry, or for those wishing to understand and appreciate the trajectory and state-of-play of an industry of growing importance to the global energy industry.

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-to-business conferences, newsletters, management reports and e-zines focusing on the energy, telecoms, pharmaceutical, defence and 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.

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