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2015 Russian geophysical services market: Meeting sustainable development needs

Laptev V.V. (OOO NovTech new technologies, RF, Ufa)


This analysis of the domestic geophysical market addresses its key development trends under global energy crisis with focuses on falling oil and gas prices, the US-led sanctions against the Russian energy sector, and the weakening rouble. In particular, potential ways to sustain the Russian geophysical services sector, in extremely unfavourable environment for domestic upstream oil and gas, are analysed. Russian governments imports phaseout moves, with special focuses on hi-tech equipment and services, are believed to help bringing additional government and energy company investment to geophysical instrumentation and services. In the present day environment, the following areas are assumed most promising for the geophysical sector: hydrofrac market development and coiled tubing services apart from the falling rouble offering some competitive benefits for exports of geophysical technology and services.

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