CGG: CGG, PGS and TGS Announce Versal, a Unified Ecosystem for Accessing Multi-Client Seismic Data across Multiple Vendors

Rhea-AI Summary

CGG, PGS, and TGS have launched Versal, a groundbreaking unified ecosystem for accessing seismic data from multiple vendors. Announced on October 28, 2021, this cloud-based platform provides clients access to over 70% of the seismic multi-client market via a single login. The initiative aims to streamline workflows, enhancing data accessibility for exploration and production teams. Company leaders from CGG, PGS, and TGS express confidence that Versal will transform workflows and improve decision-making efficiency for energy companies.

Positive

• Launch of Versal unifies access to seismic data from multiple vendors.
• Versal covers more than 70% of the seismic multi-client market.
• Improves operational efficiency by reducing data access time from days to minutes.

Negative

• None.

CGG, PGS and TGS Announce Versal, a Unified Ecosystem for Accessing Multi-Client Seismic Data across Multiple Vendors

Paris, France – October 28, 2021

Further to the announcement on 15 December 2020, CGG, PGS and TGS, industry leaders of multi-client geoscience data, today announce Versal – a unified seismic data ecosystem giving access to three of the world’s largest multi-client libraries via a single log-in.

Versal is an independent, secure, cloud-based, multi-client seismic data ecosystem where clients can easily access all their data and entitlements in one place. As a result, E&P teams can now capitalize on their interpretation and analysis workflows for their subsurface projects by leveraging a seamless licensed data experience that takes minutes rather than days, enabling maximum efficiency and opportunity generation.

Sophie Zurquiyah, CEO, CGG, said: “Versal is unique in streamlining industry access to more than 70% of the seismic multi-client market, through a vendor-neutral, cloud-based common ecosystem. We are pleased to work together with TGS and PGS to bring this needed service to the market and offer client teams an easier and more efficient way to access the data they need to identify new opportunities and optimize field performance.”

Rune Olav Pedersen, President and CEO of PGS said: “We believe that energy companies’ workflows will be transformed with Versal, enabling them to achieve their goals through rapid access to secure cloud-based multi-client seismic data and entitlements. Versal has created an environment that will benefit both the consumers of seismic data and the data providers over the longer term. We are proud and excited by the launch of this successful industry-wide digitalization initiative.”

Kristian Johansen, CEO at TGS, said: "This landmark collaboration with CGG and PGS provides a foundation for our clients to universally view, access and build innovative subsurface workflows at the click of a button. Versal’s ability to improve decision-making with less uncertainty, underpins its initiative to provide the best customer service to our clients and future clients. I look forward to Versal’s evolution to increase data richness for users.”

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).

CGG offers a comprehensive portfolio of multi-disciplinary, multi-client products, including the industry’s most recent and technologically advanced seismic data library in the world’s key locations.

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

About PGS

PGS ASA and its subsidiaries (“PGS” or "the Company") is a focused marine geophysical company that provides a broad range of seismic and reservoir services, including acquisition, imaging, interpretation, and field evaluation. The Company MultiClient data library is among the largest in the seismic industry, with modern 3D coverage in all significant offshore hydrocarbon provinces of the world. The Company operates on a worldwide basis with headquarters in Oslo, Norway and the PGS share is listed on the Oslo stock exchange (OSE: PGS).

Bård Stenberg
VP IR & Corporate Communication
Mobile: +47 992 45 235
E-Mail: bard.stenberg@pgs.com

About TGS

TGS provides scientific data and intelligence to companies active in the energy sector. In addition to a global, extensive and diverse energy data library, TGS offers specialized services such as advanced processing and analytics alongside cloud-based data applications and solutions.

Jaclyn Townsend
Director, Corporate Marketing at TGS
Tel: +1 832 667 4757
E-Mail : jaclyn.townsend@tgs.com

Attachment

• CGG - Press Release pdf version

FAQ

What is Versal and when was it announced?

Versal is a unified ecosystem for accessing seismic data announced on October 28, 2021, by CGG, PGS, and TGS.

How does Versal benefit energy companies?

Versal streamlines data access, allowing energy companies to enhance efficiency in their interpretation and analysis workflows.

What market share does Versal cover?

Versal provides access to over 70% of the seismic multi-client market.

Which companies are collaborating on the Versal project?

CGG, PGS, and TGS are collaborating to develop and enhance the Versal platform.