CGG Vessels Secure an Acquisition Backlog Worth an Additional $75M
19 Abril 2005 - 3:00AM
PR Newswire (US)
CGG Vessels Secure an Acquisition Backlog Worth an Additional $75M
PARIS, April 19 /PRNewswire-FirstCall/ -- Compagnie Generale de
Geophysique (ISIN: FR0000120164, NYSE: GGY) announced that two of
its vessels have each secured a strong backlog of acquisition work.
Both vessels, CGG Alize and CGG Harmattan, have won contracts for a
full season of work in the North Sea, lasting from May to
September, before sailing for Brazil to acquire six-month projects
for Petrobras. In the North Sea, the CGG Alize, which recently
completed its project offshore India, will operate for the next
four months to conduct a high-density 4D survey for Statoil. This
new award follows on from similar projects conducted for Statoil in
2004. The CGG Harmattan has been awarded a series of contracts
including 3D work for Wintershall in the Netherlands and 4D
projects for Apache and BP in the North Sea. To conduct these
projects, totalling almost four months of activity, the CGG
Harmattan will be able to draw on its experience of shooting 3D and
4D projects in field production areas in Brazil and Mexico in
recent years. In Brazil, the two vessels will acquire over 6,000 sq
km of new seismic data in the Campos and Santos Basins. The CGG
Alize will shoot the Santos survey with a ten-streamer
configuration. The flexibility of the CGG Harmattan, which will
join the CGG Alize in Brazil early next year, made it the obvious
choice for shooting the Campos survey in shallow water depths
ranging from 25 to 200 m. Luc Benoit-Cattin, Executive Vice
President of Offshore Services, said: "These awards confirm the
strong upturn in marine seismic activity and reinforce our
confidence for 2006." The information included herein contains
certain forward-looking statements within the meaning of Section
27A of the securities act of 1933 and section 21E of the Securities
Exchange Act of 1934. These forward-looking statements reflect
numerous assumptions and involve a number of risks and
uncertainties as disclosed by the Company from time to time in its
filings with the Securities and Exchange Commission. Actual results
may vary materially. The Compagnie Generale de Geophysique group is
a global participant in the oilfield services industry, providing a
wide range of seismic data acquisition, processing and geoscience
services and software to clients in the oil and gas exploration and
production business. It is also a global manufacturer of
geophysical equipment. DATASOURCE: Compagnie Generale de
Geophysique CONTACT: Christophe Barnini, +33-1-64-47-38-10,
Copyright