CGGVeritas (ISIN: 0000120164)(NYSE:CGV)(Paris:GA) announced today that,
after negotiations with Total Exploration & Production Angola and
Sonangol, it has been awarded a five-year contract for the 4D seismic
processing and imaging of annual and biennial monitor surveys planned to
take place offshore Angola.
Over 6,000 km2 of seismic data from five of Total's deep
offshore group of fields (Girassol/Jasmim, Rosa, Dalia/Camelia, Pazflor,
and CLOV) in Block 17, which is operated by Total in partnership with
Statoil, BP and Esso, are expected to be processed over the contract's
duration. The large program, including fast-track, base and monitor
processing, will be shared between the CGGVeritas processing center in
Luanda, which has served the Angolan E&P industry since 1999, and the
CGGVeritas dedicated processing center for Total in Pau, France, which
has been operating since 2002.
CGGVeritas has already gained considerable experience with this type of
project, having successfully delivered 4D processing and reservoir
characterization services to Total in Angola Block 17 over the last
decade. The Luanda center, with support and training from the dedicated
processing center in Pau, will draw on this expertise to apply a robust,
optimized 4D processing and imaging workflow for each field so as to
deliver high-end quality with a significantly reduced turnaround time.
This will provide Total Angola's reservoir management teams with the
information required and sufficient time for evaluating results to meet
field development requirements.
Jean-Georges Malcor, CEO, CGGVeritas, said: "We are pleased to have been
awarded this significant contract which recognizes our 4D processing
excellence and proven track-record of developing pioneering 4D
technologies. It also recognizes our long-standing relationship with
Sonangol and Total Angola and our strong local commitment to Angola. We
look forward to extending our partnership with Sonangol and Total Angola
to further contribute to improving hydrocarbon recovery via 4D seismic."
is a leading international pure-play geophysical company delivering a
wide range of technologies, services and equipment through Sercel, to
its broad base of customers mainly throughout the global oil and gas
industry. CGGVeritas is listed on the Euronext Paris (ISIN: 0000120164)
and the New York Stock Exchange (in the form of American Depositary
Shares, NYSE: CGV).
The information included herein contains certain forward-looking
statements within the meaning of Section 27A of the securities act of
1933 and section 21E of the Securities Exchange Act of 1934. These
forward-looking statements reflect numerous assumptions and involve a
number of risks and uncertainties as disclosed by the Company from time
to time in its filings with the Securities and Exchange Commission.
Actual results may vary materially.
Christophe Barnini, +33 1 64 47 38 11
Antoine Lefort, +33 1 64 47 34 89