Economic Report 2016 - Oil & Gas UK

Figure 36: Global Seismic Spending

1

16,000

14,000

2

12,000

10,000

3

8,000

6,000 US$ Million

4

4,000

5

2,000

0

1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 2017

6

Source: SEB Equities

The outlook for the remainder of 2016 remains challenging. Those companies that have been able to keep profitable contracts, deliver on cost-reduction plans and manage debt levels are best placed to benefit from any growth in market share resulting from further potential business failures. Looking forward into 2017 and beyond, if commodity prices are less volatile, confidence should improve and investment may return. In the same way that reservoir-focused companies were the first to feel the impact of the downturn, they should benefit quickly from increased activity.

7

8

9

10

11

51