Comp Gen Geophys (NYSE:GGY)
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Compagnie Generale De Geophysique
Contracts for Processing - Reservoir Services in Mexico Extended for Three Years
PARIS, Dec. 19 /PRNewswire-FirstCall/ -- CGG (ISIN: FR0000120164 ; NYSE: GGY)
today announced that Pemex has extended its contract for the provision of
technical support for a further three years. This is the third in a series of
key contracts relating to seismic data processing, reservoir geophysics and
technical support that Mexico's national oil company has renewed with CGG's
Mexican subsidiary, CMG, in the last few months.
CGG deploys its data processing and reservoir expertise in Mexico out of its
dedicated processing center in Villahermosa, where a 2,000+-CPU cluster is
migrating massive surveys in record times with leading-edge technology in order
to reduce processing times and speed up the exploration cycle.
Technical support in high-end seismic processing is in turn provided to Pemex's
National Seismic Processing Center, the CNPS, also based in Villahermosa. The
CNPS runs Kirchhoff PSTM algorithms on its IBM 1024 CP Linux cluster operated by
a team of CGG geophysicists and IT engineers.
According to Adan Oviedo, Pemex E&P VP exploration: "CGG, through its subsidiary
CMG, provides a full spectrum of integrated services from 3D acquisition to
reservoir characterization which, we are sure, will play an important part in
enhancing Pemex's ability to reduce cycle time and achieve our business goals."
Dominique Gehant, manager of CGG Processing & Reservoir services in Mexico,
declared: "We are delighted that Pemex is renewing its confidence in CGG. These
awards testify to the close relationship we have developed over the last five
years. We are continuing to emphasize our commitment by opening an office in
Ciudad del Carmen so that a team of our geophysicists can work closely with
Pemex's main offshore operations center via a remote link to our Villahermosa
center."
The information included herein contains certain forward-looking statements
within the meaning of Section 27A of the securities act of 1933 and section 21E
of the Securities Exchange Act of 1934. These forward-looking statements
reflect numerous assumptions and involve a number of risks and uncertainties as
disclosed by the Company from time to time in its filings with the Securities
and Exchange Commission. Actual results may vary materially.
The Compagnie Generale de Geophysique group is a global participant in the
oilfield services industry, providing a wide range of seismic data acquisition,
processing and geoscience services and software to clients in the oil and gas
exploration and production business. It is also a global manufacturer of
geophysical equipment.
DATASOURCE: Compagnie Generale de Geophysique
CONTACT: Christophe Barnini, +33-1-64-47-38-10, , or
Dominique Gehant, +52-993-316-90-25, , both of Compagnie
Generale de Geophysique
Web site: http://www.cgg.com/