Publications Details
The impact of 3D seismic technology on the petroleum market
Three dimensional (3D) seismic technology is regarded as one of the most significant improvements in oil exploration technology to come along in recent years. This report provides an assessment of the likely long-term effect on the world oil price and some possible implications for the firms and countries that participate in the oil market. The potential reduction in average finding costs expected from the use of 3D seismic methods and the potential effects these methods may have on the world oil price were estimated. Three dimensional seismic technology is likely to have a more important effect on the stability rather than on the level of oil prices. The competitive position of US oil production will not be affected by 3D seismic technology.