seismic

Oil & Gas

Seismic industry revenues to nearly evaporate in 2020

21/04/2020

The Covid-19 pandemic and the current low-oil-price environment have pushed global exploration and production operators to cut costs, scrapping all but the most vital of their investment plans. The supply industry that will suffer the most as a result is seismic, as shown by a Rystad Energy analysis, with revenues estimated to fall this year by 51% in a $30 Brent scenario and by 77% if the Brent falls to $20, compared to levels seen in 2019.

Africa

Offshore seismic on the up

06/01/2020

Confidence continues to return for offshore work, with offshore seismic companies reporting improved performance from contract work, while multi-client continues to lag.

Africa

Soco buckles down for Egyptian work

11/09/2019

The acquisition of Merlon Petroleum earlier this year has given Soco International a new focus, with new exploration planned in Egypt and neighbouring Israel. As such, the company is planning to change its name, to Pharos Energy.

Africa

TGS, Schlumberger bring Red Sea into focus

11/09/2019

TGS and Schlumberger’s WesternGeco are close to finishing 3D seismic reimaging on Egypt’s Red Sea, as a licence round comes to a close in the area. The two companies said the work would cover data from three seismic surveys, covering 3,600 square km, which were acquired between 1999 and 2008.

Oil & Gas

A seismic shift at sea

06/06/2019

Despite the climate change crisis that threatens to engulf us all, the quest for new hydrocarbon resources goes on relentlessly. One of the key tools in that process is seismic survey – both 2D and 3D.