CGG recently announced the award by PEMEX of 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. Project preparations started in the first quarter of 2014, as mentioned, without further details, in the Fugro trading update Q1 2014. Data collection and operation started in July and are expected to be finalised in the third quarter of 2015.
About CGG
CGG is a fully integrated Geoscience company providing leading geological, geophysical and reservoir capabilities to its broad base of customers primarily from the global oil and gas industry. Through its three complementary business divisions of Equipment, Acquisition and Geology, Geophysics & Reservoir (GGR), CGG brings value across all aspects of natural resource exploration and exploitation.
About FUGRO
Fugro creates value by acquiring and interpreting Earth and engineering data and by supporting its clients with the design, construction, installation, repair and maintenance of their infrastructure. Fugro works predominantly in energy and infrastructure markets offshore and onshore, employing approximately 12,500 employees in over sixty countries. In 2012 Fugro’s revenues amounted to € 2.2 billion, it is listed on NYSE Euronext Amsterdam and is included in the AEX-Index.