home Exploration, Production Could 3D Seismic Technology Be The Next Arbitrage For Australian Startups?

Could 3D Seismic Technology Be The Next Arbitrage For Australian Startups?

Source: Forbes

Offshore drilling rig, Gulf of Mexico

 

Australia is known for its plethoric natural resources. The abundant resource sector has long been a major contributor to the country’s economy. However, despite $200 billion of capital investments over the past decade, industries are experiencing a down turn in activity compared to the prosperous period of the mining boom. The oil sector, particularly, is showing a climactic decline due to a combination of exhausting mature oil fields and a lack of innovation to improve exploratory processes.

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