North America and Europe is likely to be the largest market for seismic survey. The Seismic survey market is mainly driven demand of seismic technology in brownfield projects and shale gas exploration. The multi client’s surveys will provide the opportunity to oil and gas companies to share the costs of exploration projects. The seismic survey market is expected to grow from an estimated USD 7.54 billion in 2017 to USD 9.28 billion by 2022.

The North American market is expected to be the largest segment of the seismic survey market, by region. The region has extensive untapped resources which will create an opportunity for oil & gas exploration companies. Since the slump in oil prices, shale exploration has been on the decline. However, operators are currently able to meet the breakeven price of shale with oil prices as low as USD 40/barrel. This has resulted in a surge in the demand for seismic data for shale reserves. The increased investments in shale gas exploration have led to an increase in the demand for seismic surveys in North America.

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The seismic survey market for data processing and data interpretation is expected to grow at the significant pace during the forecast period. The data processing and interpretation demand is rising as oil and gas companies are utilizing these software services to explore new hydrocarbon field opportunity. The advancement in technologies is useful for the operators and oil and gas service companies in order to tap the demand generating from mature oilfields. Oil and gas companies currently are investing in areas which have already been explore with the help of data processing and interpretation. Thus the demand for data processing and interpretation increases as oil and gas companies start exploring the brownfields projects.

African countries will offer high growth opportunities to seismic survey market. Factors such as targeting brownfields, and improving production rate would impart growth in seismic survey market. Oil and gas companies are targeting the economies reserves which are economical in costs and provide better results.

The seismic survey market leading players have been profiled with their recent developments and other strategic activities. These include  Compagnie Generale De Geophysique (CGG) (France), Petroleum Geo-Services (PGS) (Norway), Fugro N.V. (Netherlands), Polarcus Limited (U.A.E.), Tomlinson Geophysical Services (TGS)- Norwegian Petroleum Exploration Consultants (NOPEC) Geophysical Company (Norway), SeaBird Exploration, PLC (Cyprus), Agile Seismic, LLC (U.S.), New Resolution Geophysics (NRG) (South Africa), Ion Geophysical Corporation (U.S.), Geokinetics (U.S.), Schlumberger Limited-WesternGeco (U.S., Pulse Seismic, Inc. (Canada), SA Exploration Holding, Inc. (U.S.), Dawson Geophysical Company (U.S.), Alpine Ocean Seismic Survey, Inc. (U.S.), Geospace Technologies Corporation (U.S.), and Global Geophysical Services, Inc. (U.S.) are some of the important players.

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