CGGVeritas announces multi-year extension of Oman processing contract

CGGVeritas announced that it has been awarded a multi-year contract extension by Petroleum Development Oman (PDO) to perform seismic data processing and imaging services at its Mina Al Fahal site.

Oman: Wednesday, December 10 - 2008 at 14:22
PRESS RELEASE

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The contract extension is expected to commence January 2009 and continue through 2011 with an option to extend for an additional year.

The dedicated processing center, through which CGGVeritas has delivered innovative processing technology and service excellence to PDO for the last 14 years, recently underwent a significant IT upgrade to best address the processing challenges of PDO's new-generation, wide azimuth 3D seismic survey currently underway in Southern Oman.

Ardiseis, the CGGVeritas joint venture in the Middle East, is acquiring high-productivity 3D survey with a 25,000 channel count crew operating 24 hours per day.

Chairman and CEO of CGGVeritas, Robert Brunck, stated:

'We are extremely pleased that PDO is continuing its long-term relationship with CGGVeritas, as market leader in dedicated advanced processing and imaging centers. This contract extension to process the wide azimuth survey comes just two months after the award to extend and upgrade our land seismic acquisition contract with PDO. It further demonstrates the confidence that PDO has in our advanced technology, expertise and service excellence as well as underlines the leadership position that CGGVeritas and its joint venture Ardiseis have in the growing high-end segment of the seismic market.'

See Also

» GE opens water and process technology centre in Saudi

» Iraq to earn 100 times more than oil companies, says minister

» Oman offers four oil, gas areas for exploration

» Aramco, Showa to study solar power plan

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Notes and media contacts

About CGGVeritas:

CGGVeritas 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 SA (ISIN: 0000120164) and the New York Stock Exchange (in the form of American Depositary Shares, NYSE: CGV).

Media contact:

Paris:
Christophe Barnini
CGGVeritas
Tel: +33-1-64-47-38-10

Houston:
Hovey Cox
CGGVeritas
Tel: +1-(832)-351-8821

Posted by Siba Sami Ammari
Wednesday, December 10 - 2008 at 14:22 UAE local time (GMT+4)

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