The changing face of the seismic sector

摘要

Despite the downturn, there is room for new, flexible and fit-for-purpose contractors. The last 10 years have been a difficult period for the seismic industry, with the last five being particularly brutal. In the previous decades the industry had grown accustomed to the fact that it was cyclical. Demand for seismic services was either high, in which case contractors were able to increase margins and invest in new technology, or demand was low, and contractors survived by acquiring poorly funded nonexclusive surveys and laying up crews while looking forward to the next upswing. Since 2012 the seismic demand trend has been one way only, and the established players are shadows of their former selves. In mid-2018 there were 21 active high-capacity 3-D vessels operated by the major contractors compared to about 75 a few years ago.