Offshore Oil and Gas Seismic Equipment and Acquisitions Market Share

North American Market Analysis

North America region is expected to hold the first position in the offshore oil and gas seismic equipment and acquisitions market and will hold almost 39% of the revenue share. This position will be held by the North American region because of this region’s government’s initiative to find offshore. In April, TGS declared the beginning of the second stage of a Peninsular Malaysia multiclient 3D handling project encircling 20,347 sq km from 32 3D seismic studies in partnership with DownUnder GeoSolutions (DUG). Aligned with the 16,957-square-kilometer first stage of the project, it will be one of the biggest ones of its kind in Asia to date, Bragga added. According to Malaysia's carbon-neutral objective of 2050, the pursued growth of this dataset will enable modified regional mapping and constructive comprehension and the classification of new investigation and Carbon Capture and Storage (CCS) scopes.

European Market Statistics

The Europe market is set to hold the second largest position in the offshore oil and gas seismic equipment and acquisitions market due to the increasing initiatives taken by the European government to increase the source of sustainable energy. To make sure that offshore sustainable energy can assist in reaching the EU's aspiring energy and climate focuses for 2030 and 2050, the Commission released a devoted EU planning on offshore renewable energy on 19 November 2020 which suggests material ways forward to help the persistent renewable growth of this sector. The planning sets focus for an installed amount of at least 60 GW of offshore wind and 1 GW of ocean energy by 2030, and 300 GW and 40 GW, individually, by 2050.