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CGG : CGG Delivers Fast Trax Results From Deux, Its Second StagSeis Survey In Gulf Of Mexico

Stocks in this article: CGG

CGG Delivers Fast Trax Results from Deux,   its second StagSeis survey in Gulf of Mexico

PARIS, June 18, 2014 (GLOBE NEWSWIRE) -- CGG announced today the release of the Fast Trax TM processed data from its Deux multi-client survey covering 357 blocks in the Gulf of Mexico. The Fast Trax seismic images have been delivered on schedule less than seven months after completion of the survey.

Deux is the second of a three-survey multi-client program that CGG is conducting in the Garden Banks, Green Canyon, Keathley Canyon and Walker Ridge areas of the Gulf of Mexico using StagSeis TM, its next-generation subsalt imaging solution. CGG is currently acquiring Trois, its third StagSeis survey. The location includes several key prospects and multiple discoveries and covers 293 blocks adjacent to IBALT and Deux.

Fast Trax TM data is already available from IBALT, the first of the StagSeis surveys in the program covering 221 blocks, and the fully processed data set for IBALT Area A (110 blocks) will be available in August 2014.

StagSeis combines recent advances in marine acquisition and subsurface imaging, to deliver full-azimuth, ultra-long-offset broadband seismic. This innovative solution produces stunning images of the subsurface and provides illumination where wide-azimuth acquisition fails to image targets below complex overburdens.

Jean-Georges Malcor, CEO, CGG, said: "We are very pleased with the Fast Trax results from our Deux survey which already provide superior images for exploration and production in the Gulf of Mexico. The successful delivery of Deux products on time further strengthens our confidence in StagSeis, as a proven next-generation solution that meets our clients' need for the very best seismic images to help reduce E&P risk in a realistic timeframe. By the end of our three-survey StagSeis program, the equivalent of over 871 U.S. Outer Continental Shelf Blocks, or more than 20,000 square kilometers, of next-generation seismic images covering the ultra-deep waters of the Gulf of Mexico will be available to the industry ahead of the 2016-2018 licensing rounds."

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