CGGVeritas Announces Award for Ultra High-Density Land Seismic Contract
CGGVeritas (ISIN: 0000120164 – NYSE: CGV) has been awarded a contract by Qatar Petroleum to undertake a large, ultra high-density high-resolution onshore seismic survey. The expected value of the contract is approximately $140 million dollars. Work on the project will commence around year-end 2008 and is anticipated to have a duration of about thirty months.
The survey will cover the Dukhan field in Qatar that extends under desert plains, coastal salt flats, transition zones and shallow water areas.
To ensure that this complex and industry-first high-resolution survey delivers the best results, CGGVeritas will provide the full range of acquisition and processing services deploying a 40,000-channel seismic crew, 3D VSP (Vertical Seismic Profile) and imaging services.
According to Robert Brunck, Chairman and CEO of CGGVeritas: “This industry-first survey will generate the highest possible resolution seismic image of the reservoir. A survey of this density was made feasible based on the results of our extensive research and development to create unique technologies and methodologies for continued improvement of image quality and increased efficiency of operations. This combination best addresses our customer’s needs for very high-resolution solutions. Considering its volume, density and technical requirements, this contract also reinforces the position of CGGVeritas and its regional joint venture, Ardiseis, as the worldwide leader in the growing high-end seismic segment”.