CGG announced today that its contract with OMV to operate a dedicated center at its head office in Vienna has been renewed. The contract will run for a further three years. During this period OMV will continue to benefit from onsite access to CGG’s subsurface imaging and reservoir characterization expertise and technology.
CGG announced during Africa Oil Week that the fast-track 3D seismic data from its recent Mozambique multi-client survey in the outer Zambezi Delta Basin is now available for license. Interested international oil companies with an Africa focus can view the high-end data set in CGG data rooms in anticipation of the country’s 2019 licensing round.
Our strategic roadmap is focused on ensuring that CGG can produce sustainable returns through the cycles and deliver profitable organic growth. These objectives will be accomplished by transforming CGG into an asset-light People, Data and Technology Company, and furthering the leadership of our three core differentiated businesses: Geoscience, Multi-Client and Equipment, along with developing new areas for capital-efficient profitable growth.
Our third quarter revenue was up 4% year-on-year, confirming the gradual market recovery. Geoscience saw robust performance and Multi-Client delivered a high level of after-sales but was impacted by delayed pre-funding recognized in October.
Postgraduate students at Pakistan’s Bahria University (Karachi Campus) can now conduct more complex research into quantitative geophysics thanks to the donation by CGG GeoSoftware of a full suite of its advanced geoscience software.
CGG has recently completed seismic depth imaging of its entire Northern Viking Graben multi-client survey, in the Norwegian North Sea. The latest visco-acoustic (“Q”) velocity modeling and seismic imaging technologies have been applied to BroadSeis™ broadband variable-depth streamer field data, acquired between 2014 and 2016. The final output forms a contiguous data volume covering 35,400 km².
Deriving facies models from the outcomes of seismic inversions, and their derivatives, has become standard practice in reservoir characterization workflows. Although facies classification methods are rooted in Bayesian inference theory, they continue to evolve.
CGG has commenced acquisition of a high-density, rich-azimuth, towed-streamer multi-client survey in the UK West Shetland Basin. The 3,600 sq km survey has received strong industry support and been designed in collaboration with major international oil companies.
High-precision ground stability measurements from CGG’s recently released MotionMap UK database will now be used to enhance the specialist ground risk reports of Terrafirma Search, the UK’s leading independent advisor on ground hazards.