CGG: CGG Wins Another Major 4D OBN Imaging Contract Offshore Brazil

Rhea-AI Summary

CGG has secured a new contract for a two-part Ocean Bottom Node (OBN) seismic imaging project by PXGEO in the Sapinhoá Shared Reservoir, Santos Basin, Brazil. This initiative aims to enhance geological insight, aiding Petrobras in oil recovery and production management. The project builds on CGG's strong record in pre-salt OBN projects. Processing of the baseline survey, covering 575 sq km, is underway at CGG’s Rio de Janeiro center, utilizing advanced imaging technologies. A follow-up 4D monitor survey is planned for 2023, further strengthening CGG's capabilities in this challenging field.

Positive

• Secured a significant contract with PXGEO for OBN imaging in Brazil.
• Enhances data quality and geological insights for Petrobras, aiding in better oil recovery management.
• Ongoing processing of a 575 sq km baseline survey utilizing advanced proprietary imaging technologies.

Negative

• None.

CGG Wins Another Major 4D OBN Imaging Contract Offshore Brazil

Paris, France – March 24, 2022

CGG has been awarded a two-part Ocean Bottom Node (OBN) seismic imaging project by PXGEO over the Sapinhoá Shared Reservoir in the Santos Basin offshore Brazil.  The resulting data will bring improved geological insight to the asset operator, Petrobras, to assist with better management of oil recovery and production development.

Peter Whiting, EVP, Geoscience, CGG, said: “With our unequalled track record of successful pre-salt OBN projects, CGG is without doubt the world’s leading OBN seismic imaging company. Although imaging the pre-salt is always challenging, the experts at our dedicated Rio research center are recognized for their ability to develop technologies tailored to the needs of each individual project and deliver high-quality pre-salt 4D OBN results.”

The baseline 3D seismic survey acquired by the PXGEO Poseidon OBN crew, covering 575 sq km, is already being processed at CGG’s Rio de Janeiro subsurface imaging center. Its highly experienced geoscientists are applying CGG’s latest proprietary imaging technologies, including time-lag full-waveform inversion, internal multiple attenuation and least-squares migration, to resolve challenging structural uncertainties in the pre-salt and gain better insight into the reservoir’s geomechanical behavior. CGG will process the 4D monitor survey after its planned acquisition, again by PXGEO, in 2023.

About CGG

CGG (www.cgg.com) is a global geoscience technology leader. Employing around 3,300 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 contract has CGG won in Brazil?

CGG has won a two-part Ocean Bottom Node (OBN) seismic imaging project contract with PXGEO in the Santos Basin, Brazil.

How will the contract benefit Petrobras?

The contract will provide improved geological insights that will assist Petrobras in managing oil recovery and production development.

What technologies is CGG using for the seismic imaging project?

CGG is utilizing proprietary imaging technologies including time-lag full-waveform inversion and least-squares migration.

When is the follow-up 4D monitor survey planned?

The follow-up 4D monitor survey is planned for acquisition in 2023.

What area is covered by the baseline survey?

The baseline survey covers an area of 575 square kilometers.