Long term seismic contracts for CGG

CGG - press release April 10, 2013

CGG announced today that it has been awarded two contracts by Statoil ASA to provide long-term seismic imaging services for permanent reservoir monitoring (PRM) operations on the Snorre and Grane fields in the Norwegian sector of the North Sea.

The scope of each contract also includes acquisition QC services. The contracts are for an initial fixed term of four years for each field, with an option for Statoil to extend each contract by two further terms of two years each. The first survey is scheduled to commence on 1 October 2013 over the Snorre field.

CGG will set up two PRM dedicated processing centers within Statoil’s offices in Stavanger and Bergen. In this way, acquisition QC and imaging of the data from each repeat survey will be performed by a team of CGG specialists in close collaboration with Statoil’s Snorre and Grane asset teams.

Jean-Georges Malcor, CEO, CGG, said: “These two new awards build on CGG’s already significant PRM imaging experience on the Clair and Ekofisk projects in the North Sea. In the case of Ekofisk, the CGG group provided a fully integrated PRM solution covering the equipment, data acquisition and processing. By winning these new Snorre and Grane awards for acquisition QC and imaging we have confirmed our position as the leading provider of PRM seismic imaging services.”