CGGVeritas Notes Inauguration of Technology Center in Saudi Arabia

CGGVeritas announced today that ARGAS, one of its joint ventures with TAQA in the Middle East, has opened a Technology Center in Al Khobar, Saudi Arabia. The new facility is an open center designed to serve the oil and gas community in the Kingdom with a suite of state-of-the-art capabilities and resources.

This unique center offers a focal point for both local oil and gas players and researchers from the Earth Sciences Department of the King Fahd University of Petroleum and Minerals to benefit from:

• co-operation with R&D experts to address specific geophysical challenges,
• high-end processing & imaging technologies, including a visualization center,
• access to world-class training from CGGVeritas University.

At the inauguration ceremony, Robert Brunck, Chairman and CEO of CGGVeritas, said, "Our investment in this Technology Center is a significant milestone in our long and productive 40-year partnership with TAQA in the Kingdom through our ARGAS joint venture. Our ambition is to locally apply and advance the sophisticated processing algorithms we develop globally in order to unmask the embedded value of the seismic data we have been acquiring here for so many years. CGGVeritas will continue to stand by the side of ARGAS to serve Saudi Aramco and their partners in a continuous drive to improve the understanding of reservoirs in Saudi Arabia."