CGGVeritas Announces Fourth Acquisition On North Sea EKOFISK Life-of-Field Seismic Program

Regulatory News:

CGGVeritas (Paris:GA) (NYSE:CGV) announced today that it will begin acquiring a fourth repeat survey (LoFS04) on the Ekofisk field in the North Sea as part of the multi-year Life-of-Field Seismic (LoFS) program for which it was awarded both the seismic data acquisition and processing.

Mobilization is starting early June 2012, and the shooting period will last approximately one month in accordance with the LoFS program schedule. The program is being acquired with a four-component (4C) fiber-optic permanent reservoir monitoring (PRM) solution, deploying 16,000 Sercel OPTOWAVE TM ocean-bottom channels. More than two years after the full-scale fiber-optic installation all channel sensors are providing data that is being utilized to provide 4D reservoir monitoring images to the client.

Quality Control and processing of the data from each repeat survey is performed by a team of CGGVeritas acquisition and processing specialists based in the client’s dedicated processing center in Tananger (Norway). In addition to the full optical sensor network trenched at the seafloor, a fiber-optic connection to the shore allows real-time remote operation. CGGVeritas imaging experts are drawing on their experience and expertise in processing multicomponent 4D data to generate high-resolution time-lapse seismic images of the reservoir.

Jean-Georges Malcor, CEO, CGGVeritas, said: “With the start of this fourth repeat survey, it is extremely satisfying to see OPTOWAVE and our Permanent Reservoir Monitoring solution providing reservoir monitoring data to our partner in this revolutionary and unique full-scale permanent monitoring technology. Our planned R&D collaboration with the client for improved 4D repeatability on Ekofisk confirms the position of CGGVeritas as a leading provider of reservoir monitoring seismic solutions.”

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).

Copyright Business Wire 2010

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