Seismic survey is a method used to investigate geological properties of earth and is majorly used to explore natural gas, petroleum, and mineral deposits. Data acquisition, processing, and interpretation are the three phases of seismic survey. This technique determines the time interval between the initiation of waves at a shot point and the arrival of reflected or refracted waves by the seismic detectors. Various techniques including air guns, dynamite blast, and seismic vibrator among others are used for initiation of seismic waves. The amplitude and time are recorded on arrival of these waves at the detector. The time taken by wave to return to the surface gives several information such as types of rocks, possible fluids, and gases in the formation, providing a detailed image of the subsurface and the location of oil and gas reserves.

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Market Dynamics

Increasing demand for oil and gas is a major driving factor for growth of the global seismic survey. According to the U.S. Energy Information Administration, fossil fuels is estimated to account for 77% of the global energy use by 2040. Advantages of seismic survey such as reduction of probability of drilling dry wells thereby, preventing further drilling and minimizing environmental effects of oil and gas exploration is propelling growth of global seismic survey market. Advancements in technology in seismic survey is expected to fuel growth of the global seismic survey market over the forecast period (2018–2025). For instance, in April 2017, Explor Geophysical Ltd. launched PinPoint seismic technology that enables ultra-high density seismic imaging of oil sands targets. Furthermore, in August 2016, CGG launched TopSeis, offshore seismic technology.

Government regulations on seismic survey such as 2013 European Union regulations 2013 SI 134 that assess the environmental impact of petroleum exploration is a major factor restraining growth of the global seismic survey market.
Key Players

Key players operating in the seismic survey market are Breckenridge Geophysical, LLC, BTW Company Ltd., Dolphin Group ASA, Polaris Seismic International Ltd., Spectrum ASA, Terraseis Ltd., MMA Offshore Limited, Kuwait Oil Company, Seismic Surveys, Inc., and LoneStar Geophysical Surveys LLC.

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