Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Euronext Paris  >  CGG    CGG   FR0013181864

CGG (CGG)

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

CGG VERITAS : CGGVeritas Awarded Angola 4D Processing Program

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/16/2012 | 08:05am CEST

Regulatory News:

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."

About CGGVeritas

CGGVeritas (www.cggveritas.com) 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.

Investor Relations:
Christophe Barnini, +33 1 64 47 38 11
[email protected]
or
Group Communications:
Antoine Lefort, +33 1 64 47 34 89
[email protected]


© Business Wire 2012
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CGG
05/24 CGG VERITAS : Launches Multi-Physics Imaging for More Complete Subsurface Unders..
05/23 CGG VERITAS : Wins Extension until 2021 for Oman Dedicated Center
05/23 CGG : Wins Extension until 2021 for Oman Dedicated Center
05/12 CGG VERITAS : Restructuring Update
05/12 CGG VERITAS : 2017 First Quarter Results
05/12 CGG : Restructuring Update
05/12 CGG : CGG Announces its 2017 First Quarter Results
05/01 CGG VERITAS : Availability of the DDR and 20-F for 2016
05/01 CGG : Information Related to the Availability of the Document de Référence and ..
04/28 CGG VERITAS : Q1 2017 Results and Conference Call
More news
Sector news : Oil Related Services
05/25 European shares sputter near highs but OPEC disappointment hits oil stocks
05/25 U.S. oilfield service firms lag shale recovery; old deals hold
05/24 DONG Energy to sell oil, gas business to Ineos for $1.3 billion
05/18 Saudi Aramco to sign deals with U.S. firms during Trump visit - sources
05/17DJHALLIBURTON : President to Become CEO
More sector news : Oil Related Services
News from SeekingAlpha
05/13 CGG's (CGG) CEO Jean-Georges Malcor on Q1 2017 Results - Earnings Call Transc..
05/12 CGG 2017 Q1 - Results - Earnings Call Slides
05/12 CGG reports Q1 results
04/03 FOCUS ON EUROPE : Red Alert For European Banks? Capital Destruction At Deutsche ..
03/03 CGG's (CGG) CEO Jean-Georges Malcor on Q4 2016 Results - Earnings Call Transc..
Advertisement
Financials ($)
Sales 2017 1 222 M
EBIT 2017 -157 M
Net income 2017 -372 M
Debt 2017 2 520 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 2,16x
EV / Sales 2018 2,00x
Capitalization 124 M
More Financials
Chart CGG
Duration : Period :
CGG Technical Analysis Chart | CGG | FR0013181864 | 4-Traders
Full-screen chart
Technical analysis trends CGG
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 15
Average target price 5,27 $
Spread / Average Target -5,4%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Jean-Georges Malcor Chief Executive Officer & Director
Rémi Dorval Chairman
Pascal Rouiller Group COO & Senior Executive VP-Equipment
Stéphane-Paul Frydman Chief Financial Officer & Senior Executive VP
Loren K. Carroll Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CGG-63.68%124
SUBSEA 7 SA17.47%5 006
VERESEN INC37.99%4 287
OFFSHORE OIL ENGINEERI..-10.70%4 252
SAPURA ENERGY BHD--.--%2 668
AMEC FOSTER WHEELER PL..10.21%2 585
More Results