CGG has announced the recent signature of an expanded five-year Geovation software licensing agreement with Petrobras. After benefitting from CGG’s best-in-class seismic imaging platform for over a decade, the new agreement will give Petrobras geoscientists access to advanced technology innovations, including full-waveform inversion, and significantly enhance their imaging capabilities.

Peter Whiting, EVP, Geoscience, CGG, said: “During our 60-year operating history in Brazil, we have developed a close technology and business partnership with Petrobras which has seen CGG recognized as a key supplier. This latest expansion of our Geovation licensing agreement reflects the strength of this relationship and the significant advantage that our state-of-the-art subsurface imaging technology provides. As the powerhouse behind the success of CGG’s own high-end seismic imaging services, it is the most efficient and reliable software platform for geophysicists working with ever growing data sets and facing increasingly complex imaging challenges, such as pre-salt illumination.”

The new agreement includes expert training from CGG’s GeoTraining team to support the significant increase in the number of Petrobras Geovation licenses, enabling new users to rapidly leverage the software’s advanced seismic imaging capabilities for their projects.

About CGG

CGG is a global technology and HPC leader that provides data, products, services and solutions in Earth science, data science, sensing and monitoring. Our unique portfolio supports our clients in efficiently and responsibly solving complex digital, energy transition, natural resource, environmental, and infrastructure challenges for a more sustainable future. CGG employs around 3,300 people worldwide and is listed on the Euronext Paris SA (ISIN: 0013181864).

About Petrobras

Petrobras has upwards of 100 production platforms, 16 refineries, 30,000 kilometers of pipelines and more than 6,000 service stations. Our proved reserves are around 14 billion barrels of oil, a figure expected to double in the next few years. With the discovery of oil and gas in the pre-salt region, Brazil may become the world's fourth biggest oil producer in 2030.

We have built a track record of overcoming challenges since 1953, when the company was created. The main one was developing technology to explore and produce oil in deep and ultra-deep waters, where upwards of 90% of our reserves are nestled. With innovation and daringness, we are now the Brazilian company that makes the applies for the most patents in Brazil and abroad.