CGG and Spectrum Announce Large Multi-Client Survey offshore Brazil
December 16, 2013 --
PARIS, Dec. 17, 2013 (GLOBE NEWSWIRE) -- CGG and Spectrum announced today that they are jointly launching a large, high-end BroadSeisTM 3D multi-client survey program offshore Brazil that will focus on a large proportion of open acreage in the very promising Foz do Amazonas Basin. The two companies are working as equal partners on this project which has received high prefunding from a number of major industry players.
Covering 11,330 km² the Foz do Amazonas survey will be acquired by the Oceanic Endeavour deploying Sercel's next-generation Sentinel® RD solid streamer and is expected to start in January 2014. The high-end BroadSeis data set will be processed in CGG's Rio de Janeiro subsurface imaging center.
Jean-Georges Malcor, CEO, CGG, said: "We are launching this joint program with Spectrum as a response to the recent high level of industry interest in the Brazilian equatorial margin. We believe it will capitalize on CGG's high-end BroadSeis technology and Spectrum's recent 2D program experience in the Foz do Amazonas Basin to bring unique insight to this high-potential area."
"The Northern Margins of Brazil have been a core area for our investment campaigns over recent years," stated Rune Eng, CEO of Spectrum. "This opportunity for us to join forces with CGG in our project development and employ CGG's top-notch technology in our next phase in this area is a milestone for Spectrum."
CGG ( www.cgg.com ) is a fully integrated Geoscience company providing leading geological, geophysical and reservoir capabilities to its broad base of customers primarily from the global oil and gas industry. Through its three complementary business divisions of Equipment, Acquisition and Geology, Geophysics & Reservoir (GGR), CGG brings value across all aspects of natural resource exploration and exploitation.
CGG employs over 9,800 people around the world, all with a Passion for Geoscience and working together to deliver the best solutions to its customers.
CGG is listed on the Euronext Paris SA (ISIN: 0000120164) and the New York Stock Exchange (in the form of American Depositary Shares. NYSE: CGG).
Tel: +33 1 64 47 38 11
CGG - Spectrum: Large Multi-Clients Survey Offshore Brazil http://hugin.info/142000/R/1750274/589740.pdf