CGG Nets Large Scale Deals
CGG has announced that Subsurface Imaging, part of its geoscience division, has been awarded two “large-scale” complex seismic reprocessing contracts by PTTEP.
CGG noted that PTTEP is investing in the rejuvenation of pre-existing data sets from two regions offshore Malaysia by leveraging the company’s imaging technology and processing experience in southeast Asia. Over the course of the next year, CGG said it will conduct merged reprocessing of surveys from many vintages, including towed-streamer and OBC seismic data from offshore Sabah and Sarawak. Products are expected by mid-next year and final workstation products will be delivered by the end of 2021, CGG revealed.
PTTEP expects the resulting images will improve the definition of producing reservoirs, enable enhanced planning and drilling of future wells and open up new plays for near-field exploration at deeper intervals.
“CGG is pleased to support PTTEP, a longstanding CGG client and key player in Malaysia and the wider region, who recognizes the additional value that can be extracted from existing data sets if they are processed with our very latest imaging algorithms,” Sophie Zurquiyah, CGG’s chief executive officer, said in a company statement.
“CGG continues to be the industry benchmark for delivering advanced seismic imaging technology and the highest-quality service to help clients solve their complex imaging problems in order to improve production, de-risk development of existing reservoirs and identify new prospects,” Zurquiyah added in the statement.
In CGG’s third quarter results statement, which was released earlier this month, Zurquiyah noted that the company’s markets stabilized during the period “as large independents and NOCs started to resume activity, mainly in their core areas”.
CGG describes itself as a global geoscience technology leader. The business employs around 4,000 people worldwide and provides a comprehensive range of data, products, services and equipment that supports the discovery and responsible management of the Earth’s natural resources, according to its website.
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