CGG Wins Land Acquisition Backlog Worth $115 Million
|Thursday, January 06, 2005
Compagnie Generale de Geophysique has recently won in partnership with Elnusa a major land seismic acquisition survey in Indonesia worth nearly 18 million dollars.
The survey will be acquired over 22 drilling locations in the Tunu field and cover a surface area of 154 square kilometers of swamp and shallow water. It is the first significant high-resolution 3D seismic survey to be conducted in the Mahakam Delta for the specific purpose of enhancing drilling on production sites. Its experience of a similar project in the Mahakam Delta in 2003 means that CGG is well qualified to overcome the environmental and technical challenges of this survey.
With the addition of this new contract, and not including Argas operations, CGG's land acquisition backlog at the beginning of 2005 stands at a total of 115 million US dollars, representing ten months of activity in 2005.
Dominique Robert, Executive Vice President of CGG's Land Acquisition Services, said: "The current status of our backlog provides a strong foundation for confidence in the activity level of the land acquisition segment in the first half of 2005. The recent series of contracts we have won mark a clear increase in CGG's land acquisition activity in countries where we have been active in the recent past. We are in no doubt that with our operating experience in these challenging areas CGG will provide the best quality and value to its clients."