CGGVeritas Announces R&D Collaboration With Saudi Aramco
CGGVeritas (Paris:GA) (NYSE:CGV) announced today that it has signed a Memorandum of Understanding (MOU) with Saudi Aramco for collaborative research and development of geophysical acquisition, processing, analysis and interpretation technologies.
The MOU creates a framework for Saudi Aramco and CGGVeritas to identify opportunities for research, development and testing of advanced technologies, including: automation in the seismic value chain for oil and gas exploration and field development, permanent reservoir monitoring systems, non-seismic geophysics, and inversion of seismic/non-seismic data.
Jean-Georges Malcor, CEO, CGGVeritas, said: “We are very honored to sign this MOU with Saudi Aramco, a world-leading energy producer. Over the past four decades, CGGVeritas has had the privilege of providing geophysical services to Saudi Aramco, mostly through our Saudi Joint Venture, Argas, with TAQA. We look forward to extending this long-standing relationship to best support Saudi Aramco well into the future.”Thierry Brizard, Executive Vice President, Technology, CGGVeritas, added: "With our combined knowledge and expertise, the MOU with Saudi Aramco provides a pathway for collaborative research and development, which I expect will bring significant advancements to the science of geophysics and to the progress of reservoir characterization and management.” Samer Al Ashgar, Manager, EXPEC Advanced Research Center, Saudi Aramco, pointed out: “We are pleased with this research cooperation with CGGVeritas, and look forward to augmenting EXPEC ARC’s research initiatives in the arena of geophysical technology, to fulfill Saudi Aramco’s long-term objectives in exploration and field development.” 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).
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV