CGGVeritas Awarded Angola 4D Processing Program

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 km ² 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.”

1 2 Next › Last »