CGG: Wins Major Award from Pemex for an Integrated Subsalt Seismic Acquisition & Imaging Project in Mexico’s Perdido Area

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PARIS, Oct. 25, 2016 (GLOBE NEWSWIRE) — CGG announced today that it has been awarded a major contract by Pemex to deliver an orthogonal wide-azimuth integrated solution designed to optimize subsalt seismic imaging in the geologically complex deep waters of the Perdido area.

A new wide-azimuth survey, covering approximately 10,000 km2, will be acquired perpendicularly over the existing wide-azimuth seismic data acquired by CGG in 2010. Imaging of this first large-scale combined orthogonal wide-azimuth dataset for Pemex is expected to provide significantly enhanced subsalt imaging results due to the improved illumination of the targets beneath the complex salt canopy.

The survey will commence in early 2017 with delivery of Fast Trax pre-stack depth migration RTM results by the end of the year and full production processing results in 2018. The data will be processed in CGG’s Villahermosa and Houston subsurface imaging centers.

Jean-Georges Malcor, CEO, CGG, said: “CGG is proud to have been selected to conduct Mexico’s first offshore orthogonal wide-azimuth program to address the significant imaging challenges relating to the presence of complex geology and salt structures in the deepwater Perdido area. CGG has historically been a key provider of high-end seismic services to Pemex and has an invaluable 28-year track record of operational experience in Mexico. We are delighted to have the opportunity to continue developing our longstanding partnership with Pemex to support their exploration & development plans.”

About CGG

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 businesses of Equipment, Acquisition and Geology, Geophysics & Reservoir (GGR), CGG brings value across all aspects of natural resource exploration and exploitation. CGG employs more than 6,500 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: 0013181864 ) and the New York Stock Exchange (in the form of American Depositary Shares. NYSE: CGG).

Contacts

Group Communications Christophe Barnini Tel: + 33 1 64 47 38 11 E-Mail: : invrelparis@cgg.com Investor Relations Catherine Leveau
Tel: +33 1 64 47 34 89
E-mail: : invrelparis@cgg.com

Press release pdf version http://hugin.info/142000/R/2050941/767250.pdf

Source: http://globenewswire.com/news-release/2016/10/25/882305/10165757/en/CGG-Wins-Major-Award-from-Pemex-for-an-Integrated-Subsalt-Seismic-Acquisition-Imaging-Project-in-Mexico-s-Perdido-Area.html?f=22&fvtc=2&fvtv=1

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