CGG VERITAS : Launches Gippsland ReGeneration reprocessing project in SE Australia

Paris, France - August 7, 2017

CGG announced today the start of its Gippsland ReGeneration 3D reprocessing project in Australia's premier Gippsland Basin, in South-East Australia. The project will offer the industry the highest-resolution 3D seismic data available in this extremely prospective area.

Historically, imaging the Gippsland Basin's shelf break and numerous submarine channels has proven extremely challenging. With the application of CGG's latest high-end technology and workflows, including advanced de-multiple and high-frequency FWI, the Gippsland ReGeneration project will deliver significant reservoir imaging improvements, reveal new potential deep reservoir targets and extensively improve understanding of the basin.

To date, the Gippsland Basin has produced over 4 billion barrels of liquid hydrocarbons and 7 trillion cubic feet of gas, sourced from thick coal seams formed during the Paleocene to Eocene, and trapped in late Tertiary, inversion-formed, compressional structures. The first major offshore discovery was made over half a century ago and there is still tremendous opportunity for new discoveries and developments.

Mark Richards, Senior Vice President, Eastern Hemisphere, Multi-Client & New Ventures, CGG, said: 'CGG sees the Gippsland Basin as an exciting opportunity to show how its leading-edge seismic imaging technologies can enable the industry to breathe new life into a mature basin. With its well established infrastructure and under-developed resources, we believe this high-end reprocessing project has the potential to regenerate the basin and offer a solution to the projected shortfall in Australia's East Coast gas supplies.'

About CGG

CGG (www.cgg.com) is a fully integrated Geoscience company providing leading geological, geophysical and reservoir capabilities to its broad base of customers primarily from the global oil and gas industry. Through its three complementary businesses of Equipment, Acquisition and Geology, Geophysics & Reservoir (GGR), CGG brings value across all aspects of natural resource exploration and exploitation.

CGG employs around 5,500 people around the world, all with a Passion for Geoscience and working together to deliver the best solutions to its customers.