Equinor Extends 4D Permanent Reservoir Monitoring Contract with CGG

French seismic data specialist CGG has secured a three-year contract extension to keep operating a dedicated permanent reservoir monitoring (PRM) imaging center in Equinor’s Stavanger offices. 

Equinor’s asset teams analyze the 4D seismic images delivered by CGG’s imaging experts within days of acquisition to optimize production management and recovery from the Johan Sverdrup, Snorre, and Grane fields in the Norwegian North Sea.

The extended PRM imaging contract will run from January 1, 2022, until December 31, 2024. Financial details were not disclosed.

In a separate statement on Tuesday, CGG said it had agreed with Pramena Investment & Anacap Financial Partners a sale and leaseback of Galileo, its headquarter building located in Massy, France. The closing of this transaction is expected in Q2 2022.

Yuri Baidoukov, CGG CFO, said: "We are pleased to announce this sale and leaseback agreement. This transaction emphasizes CGG's continuing efforts to reduce its cost base and strengthen its balance sheet.”

Current News

Women in Maritime Day: Shaping the Future of Maritime Safety

Women in Maritime Day: Shaping

New Dutch Coalition Aims for More Offshore Gas Extraction

New Dutch Coalition Aims for M

Iberdrola to Triple Offshore Wind Assets

Iberdrola to Triple Offshore W

ABS Wavesight eLog Books for Offshore Drilling

ABS Wavesight eLog Books for O

Subscribe for OE Digital E‑News

Offshore Engineer Magazine