LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global offshore oil and gas seismic equipment and acquisitions market report. This research report also lists 32 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the research analysis, the global offshore oil and gas seismic equipment and acquisitions market is concentrated in nature. The market players involved in the marine seismic equipment and acquisitions market adopt multiple strategies to gain competitive advantage over the other players in the market. The strategies adopted by the market players include M&A, joint ventures, contracts, agreements, and partnerships. These strategies help them to succeed in the seismic surveying market.
“Moreover, competitors at regional level are also engaged into strong R&D to develop innovative products and technologies to cater to the changing market dynamics. By adopting these strategies, companies are able to create a large partner base as well as large customers,” says Thanikachalam Chandrasekaran, a lead oil and gas research analyst from Technavio.
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Technavio energy market research analysts identify the following key vendors:
SeaBird Exploration
SeaBird Exploration is a global provider of marine 3D and 2D seismic data for the oil and gas industry. The company is the market leader in the high-end 2D seismic services. It is also a leading provider of source vessel solutions and niche 3D seismic survey. SeaBird Exploration mostly concentrates on contract seismic surveys but is also vigorously involved in the multi-client sector. The focus of SeaBird Exploration is on technological development and this confirms continuous service improvement.
PGS
PGS is a major marine geophysical company. Their business is technology driven and they provide a broad range of electromagnetic, seismic, and reservoir services apart from imaging, acquisition, interpretation, and field evaluation. The PGS MultiClient library is among the largest and most modern in the seismic survey industry. Around 60% of the 2D and almost 30% of all 3D seismic surveys have been acquired with GeoStreamer technology.
PLCS
PLCS is an offshore geophysical company that functions a fleet of seismic research vessels globally. The company defines itself as having a strong environmental focus and their objective is to decrease emissions at sea and in the air. PLCS provides worldwide multi-client library data and seismic data acquisition services as well as seismic data imaging to help exploration and production (E&P) companies find oil and gas reserves offshore.
CGG
CGG is an entirely integrated geoscience company providing leading geophysical, geological, and reservoir capabilities to its customers, primarily the global oil and gas industry. The company has three complementary businesses of acquisition and geology, equipment, geophysics, and reservoir (GGR). It brings value across all aspects of natural resource exploration and exploitation.
Schlumberger WesternGeco
Schlumberger WesternGeco is a subsidiary of Schlumberger. The company operates as a geophysical services company, and it provides reservoir monitoring, imaging, and development services in the UK and worldwide. The company offers time-lapse and 3D seismic surveys, multicomponent surveys, and electromagnetic surveys for outlining prospects and reservoir management. The company also provides land, geophysical and transition zone and marine acquisition, electromagnetics, and reservoir seismic services and data processing.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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