Compagnie Generale de Geophysique : CGG Wins Major Contract of Over 100M$ From ONGC (India)
August 30 2004 - 1:00AM
PR Newswire (US)
Compagnie Generale de Geophysique : CGG Wins Major Contract of Over
100M$ From ONGC (India) PARIS, August 30 /PRNewswire-FirstCall/ --
Compagnie Generale de Geophysique (ISIN: FR0000120164; NYSE: GGY)
announced that it has been awarded a major contract by the Indian
national oil company ONGC for the acquisition and onboard
processing of a series of exclusive marine surveys stretching over
the entire west coast and on a portion of the east coast of India.
The project comprises 19 separate surveys covering a total surface
area of approximately 13,000 sq km and is located predominantly in
the Bombay High basin. The flexibility of the CGG fleet is ideally
suited to this challenging program where 4 to 10 streamers vessel
configurations will be required to work in the wide range of
geological targets and water depths including very shallow waters.
Shooting is scheduled to start in November and reach completion in
mid-June 2005. Full onboard processing will be performed on the
vessels using CGG's proprietary software, Geocluster, to ensure a
seamless flow between data acquisition and processing. According to
Christophe PETTENATI-AUZIERE, CGG's Senior Executive Vice
President, Services: "This 103 M$ award ranks among the largest in
the industry. This new project reflects CGG's commitment to
supporting ONGC in its ambitious oil exploration program. It comes
in the wake of a project we recently acquired to the satisfaction
of ONGC off the east coast, which saw very positive co-operation
between our two companies." Internet : http://www.cgg.com/
DATASOURCE: Geophysique CONTACT: Contacts: Christophe BARNINI,
+33-1-64-47-38-10; Rollin DELZER, +33-1-64-47-33-12, Email :
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