CGGVeritas Lands Contract for Largest Seismic Program Ever in Venezuela

CGGVeritas has been awarded a groundbreaking land 3D seismic survey by PDVSA, for the largest program recorded to-date in Venezuela. The project, valued at $100 million, will commence in early 2009 and is expected to last approximately six months.

With over thirty years of experience in Venezuela and recognized leadership in advanced survey design, acquisition and processing technology, CGGVeritas has the core capabilities to ensure this complex and challenging project is a success and fully meets the needs of its client.

PDVSA's award of this important project to CGGVeritas is the result of the geophysical company's long-term relationship and commitment to service quality. It also confirms the growing importance of the role of geophysics in the development of oil and gas resources onshore.

Robert Brunck, Chairman and CEO of CGGVeritas stated, "We are very pleased to be selected to deliver this groundbreaking 3D survey and to have the opportunity to extend our productive long-term relationship with PDVSA. The combination of our leading technology and service excellence continues to provide our clients with the best ability to meet their needs.

"Within our current visibility, land contract activity in the Americas is now at high levels for 2009 as our clients look more and more to seismic to best address their longer-term reserve replacement requirements."


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