This year is shaping up to be a struggle for survival for. companies providing seismic and related services to the E&P sector of the oil and gas industry. This is the third major oil-price driven downturn in the last 15 years. Based on previous experience in 1999 and 2008, the major players in the seismic business have already taken what pre-emptive action they can to meet reduced demand. Whether it is enough remains to be seen. One likely consequence is a slowing of new technology development which has been a hallmark of operations ever since the introduction of 3D exploration seismic in the 1980s.
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