CGG lands $200M Pemex job

CGG announced today that Pemex recently awarded CGG a contract worth close to US $200m for ocean bottom cable (OBC) 3D-4C seismic work in one of the oil company’s most important producing areas, the Ku Maloob Zaap oil field and the light crude oil fields of the Bay of Campeche in the Gulf of Mexico.

The acquisition will be conducted by Seabed Geosolutions – the joint venture that CGG and Fugro incorporated in early 2013 to handle all seabed-related seismic acquisitions. CGG will be processing all in-field data for Pemex. Operations started in late July and are expected to be finalized in the third quarter of 2015.

Stephan Midenet, Executive Vice President, Land, CGG, and Board member of Seabed Geosolutions, said: “We are delighted that Pemex is continuing its long-term relationship with CGG through this award of a major OBC seismic survey in such a prolific region of the Gulf of Mexico.

“We are confident that the pioneering seabed acquisition technology of our Seabed Geosolutions joint venture with Fugro will successfully combine with CGG’s subsurface imaging expertise to bring Pemex the critical insight they need to make confident, informed decisions on field development and production in the Bay of Campeche.”

 

Press Release, August 11, 2014

 

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