Bharat Book Bureau Provides the Trending Market Research Report on “Global Russian Seismic Survey Market: Current Situation and Development Prospects through 2025”under Heavy Industry Category. The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.
Global Russian Seismic Survey Market to reach USD XX billion by 2025.
Global Russia's seismic survey market demonstrated steady growth. Plummeting oil prices forced subsoil users to review their geological exploration programs for 2015, bringing about a substantial decrease of the seismic survey market. The overall scope of work in the 2D segment was reduced by 36 percent, the 3D segment shrank by 18 percent, and the average level of seismic teams’ workload plunged from 70-80 percent in 2014 to 50-60 percent in 2015.
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These events have triggered stronger competition among contractors despite the substantial market consolidation. The growing competition made it possible for customers to demand from contractors to retain the ruble prices they had charged before the economic crisis. The average level of price decrease in dollar denomination totaled 25-35 percent.
The high level of competition in the market will stimulate implementation of new methodologies and more advanced equipment, however, its high prices limit the number of contractors possessing sufficient resource capabilities.
Starting in 2016, the seismic survey market will begin to stabilize. The key driver will be the necessity to conduct seismic survey in Eastern Siberia and offshore in order to fulfill license agreements.
Domestic subsoil users are gradually shifting away from 2D seismic toward 3D since it provides more information. This could push big contractors to leave the market over time as local companies fill the emerging smaller regional niches.
“Russian Seismic Survey Market” analytical report aims to provide expert support for making strategic and operational decisions to a wide range of market players, relying on the following key elements of our research:
• Appraisal of key factors and development trends, including both general trends in the Russian oil and gas industry, and specific trends in the seismic survey market and its different segments
• Forecast of the seismic survey market size up to 2025, including breakdowns by major segments (2D, 3D and 4D seismic) and key oil and gas regions
• Analysis of advanced technology solutions
• Analysis of customers and competition among contractors, including assessment of their manufacturing capabilities and scope of work
The report provides the basis for assessing the potential of the entire spectrum of seismic-related equipment and services segments.
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