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Seismic and sustainable resource development

CGG, Paris, France

The first 20% of the full text of this article appears below.

We are in a rapidly and profoundly changing world—a world, which at the turn of the century has been indelibly marked by a major trend in globalization and the resulting interdependence of economies. This globalization has produced enormous movements of capital, impacting not only multinational companies but also local economies.

Multinational companies and countries have revised their roles and strategic positioning and as a result have opened opportunities for new players, especially from Asia, to participate and compete in a wider international arena.

The globalization trend and the entry of new players are true in the energy sector and particularly in E&P. We now see more and more national and local companies going abroad, seeking new sources of energy or new business opportunities.

Oil and gas companies have adapted themselves and at the peak of globalization went through a phase of mega-mergers. By significantly increasing their size, they have prepared themselves today to manage large projects with high-technology content and high risk. They have put themselves in a position to be partner of choice for host countries. This repositioning opened new opportunities for independent companies to compete globally.

So now, let us shift our focus from E&P companies and, with a magnifying glass, look at the seismic industry. First, we must acknowledge that the seismic industry, at US $4.5 billion, is a niche market within the enormous E&P industry.

The paradox we face is that the geographic theater in which we operate is the same for both. It is important to keep in mind the order of magnitude we see here. . . . [Full Text of this Article]