Barely recovering from the last downturn, E&P companies entered 2020 with measured optimism for exploration prospects. However, after the oil markets collapse earlier this year, new discoveries reached historic-lows and the oil and gas sector recorded its weakest-performing first-half in decades.

Top-level executives in the oil and gas industry recently discussed these challenges facing the sector as well as its path to recovery during a Business of Applied Geophysics session at Society of Exploration Geophysicists’ (SEG) virtual SEG20 conference.

Panelists agreed that digitalization, partnerships and adopting new ways of working are critical for the survival of the E&P sector.

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