Seismic Survey Market: Burgeoning Oil &Gas Demand From Inflating Population To Accelerate Growth

24-Aug-2018 | Zion Market Research

Escalating demand for innovative technology to determine the location as well as size of oil & gas reserves is projected to spur the growth of seismic survey market. Seismic survey helps in mapping as well as finding potential reserves described by giant oil & gas companies. The large acceptance of 2D, 3D, and 4D imaging technologies is projected to further boost the market trends.

Reportedly, many of the global organizations have termed seismic surveys to be safer and powerful tools. For instance, in 2014, Bureau of Ocean Energy Management (BOEM) reviewed seismic surveys and published its findings in Environmental Impact Statement. Based on the findings, it claimed that there was no documented scientific proof that seismic surveys cause harm to marine life as claimed by the U.S. Congress.

For the record, in past energy firms used seismic surveys in Gulf of Mexico as well as other regions over past many decades. Various tests were conducted to determine the impact of these seismic surveys on aquatic animals or environment. However, these experiments revealed that the seismic surveys caused no harm to either marine creatures or ecology.

Experts have projected that the rise in the seismic survey activities will result in more job creation over the coming years. This, in turn, will further boost the growth of mining, construction, engineering, and manufacturing sectors in the near future. A robust demand from emerging economies is likely to succor the evolution of seismic survey industry over the years to come.

Last year in August, the U.S.’s National Oceanic and Atmospheric Administration had granted permission to five energy firms to carry out seismic surveying activities across Atlantic coast, subject to public comment. Earlier, Obama’s regime denied permission to these five energy firms for carrying out seismic surveying citing that the activities can cause harm to aquatic creatures. The strategic move is likely to boost the growth of U.S. seismic survey market in the near future.

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