CGG: CGG Awarded Multi-Year Extension of Dedicated 4D PRM Imaging Center for Equinor

Rhea-AI Summary

CGG has secured a three-year contract extension to operate a dedicated permanent reservoir monitoring (PRM) imaging center for Equinor in Stavanger, effective January 1, 2022, through December 31, 2024. This extension highlights CGG's expertise in providing high-quality 4D seismic imaging, which aids Equinor's asset teams in optimizing production from key North Sea fields like Johan Sverdrup, Snorre, and Grane. CGG's imaging solutions are praised for their quick turnaround and innovative technologies, reinforcing the company's status as a leading partner in the offshore PRM sector.

Positive

• Secured three-year contract extension with Equinor, ensuring continued revenue.
• Demonstrates CGG's expertise in high-quality 4D seismic imaging.
• Strengthens position as preferred imaging partner in the offshore PRM sector.
• Leverages advanced technologies to deliver quick and efficient imaging solutions.

Negative

• None.

CGG Awarded Multi-Year Extension of Dedicated 4D PRM Imaging Center for Equinor

Paris, France – January 18, 2021

CGG has been awarded a three-year contract extension to continue operating a dedicated permanent reservoir monitoring (PRM) imaging center in Equinor’s Stavanger offices. Equinor’s asset teams analyze the 4D seismic images delivered by CGG’s imaging experts within days of acquisition in order to optimize production management and recovery from the Johan Sverdrup, Snorre and Grane fields in the Norwegian North Sea.

Peter Whiting, EVP, Geoscience, CGG, said: “This contract renewal recognizes the unparalleled experience CGG has gained over the last decade as the industry’s preferred imaging partner for major offshore PRM projects. This imaging center is an excellent example of the market-leading dedicated seismic imaging solutions and in-house technical excellence we deliver to clients worldwide.”

The extended PRM imaging contract will run from 1 January 2022 until 31 December 2024. CGG’s team of experts in Norway will leverage the company’s latest high-end 4D and velocity model building technologies to continue delivering seismic images of the highest quality within tight turnaround times to meet client requirements.

About CGG

CGG (www.cgg.com) is a global geoscience technology leader. Employing around 3,700 people worldwide, CGG provides a comprehensive range of data, products, services and solutions that support our clients to more efficiently and responsibly solve complex natural resource, environmental and infrastructure challenges. CGG is listed on the Euronext Paris SA (ISIN: 0013181864).

Contacts

Group Communications & Investor Relations
Christophe Barnini
Tel: + 33 1 64 47 38 11
E-Mail: christophe.barnini@cgg.com

Attachment

• CGG - Press Release pdf version

FAQ

What is the duration of CGG's contract extension with Equinor?

CGG's contract extension with Equinor lasts from January 1, 2022, to December 31, 2024.

What services will CGG provide to Equinor under the new contract?

CGG will provide dedicated permanent reservoir monitoring (PRM) imaging services, delivering high-quality 4D seismic images.

Which fields will CGG's imaging support for Equinor?

CGG's imaging will support Equinor's asset teams in optimizing production from the Johan Sverdrup, Snorre, and Grane fields.

What technologies will CGG utilize for the PRM imaging?

CGG will utilize high-end 4D and velocity model building technologies for the PRM imaging.