CGG Veritas Wins $465MM Mexico Oil Exploration Deal

CGGVeritas has been awarded a contract by Pemex to acquire and process 75,000 km2 of 3D seismic data offshore Gulf of Mexico. The program is expected to start in October 2009 and extend through 2013. Total contract value is approximately $465 million.

The day rate contract includes 3D and wide-azimuth offshore acquisition, onboard and onshore imaging as well as gravity and magnetic acquisition and processing. Marine acquisition work will be performed by the Alizé, a high-end CGGVeritas vessel equipped with 12 Sercel Sentinel® streamers.

According to Robert Brunck, Chairman and CEO, of CGGVeritas, "We are very pleased to have been chosen for this important contract, based on our unique portfolio of technologies and our deep in-country operational experience across all activities. This multi-year project underlines the confidence Pemex has in our technology and our expertise. The award further extends our leadership position in the high-end segment of the market."


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