CGG Delivers 9,300 sq km of Data from Agata Reimaging to Support Brazil’s 7th Bidding Round

Rhea-AI Summary

CGG has announced the delivery of fast-track data from its Agata Reimaging program over 9,300 sq km in Brazil's Santos Basin, a key area for oil and gas exploration. This advanced seismic data will aid companies in evaluating the potential of the Agata block ahead of Brazil's 7th Production Sharing Bidding Round. The program enhances imaging quality using the latest technologies, with Phase I data available in May and Phase II expected in August 2021. The initiative aims to support industry decision-making and improve exploration outcomes in this challenging geological area.

Positive

• Delivery of 9,300 sq km of reimaged seismic data supports exploration in a prolific area.
• Use of advanced processing technologies enhances imaging quality, improving decision-making for clients.
• Phase I data available in May prepares clients ahead of Brazil's 7th Bidding Round.

Negative

• None.

Paris, France – April 28, 2021

CGG has announced the delivery of the fast-track data from its Agata Reimaging program over the Agata block in the Santos Basin, a highly prolific area of Brazil’s offshore pre-salt. The ultramodern reimaged seismic data set covering over 9,300 sq km will provide valuable information to oil and gas companies wishing to evaluate acreage and assess the potential of the Agata block, prior to Brazil’s upcoming 7^th Production Sharing Bidding Round.

The Agata prospect is composed of ultra-deep pre-salt targets located below a highly deformed salt layer. Imaging in this area is particularly challenging due to the complexity of the salt geometry combined with an entangled network of igneous rocks in the post-salt associated with the Cabo Frio High volcanic activity. CGG’s Agata Reimaging program is designed to improve the base of salt continuity, lateral coherence and overall resolution to deliver superior images that minimize risk and provide a better understanding of the exploratory potential in this new frontier area.

The Agata program reimages CGG’s legacy Santos VII broadband multi-client data set with the very latest proprietary processing technologies. These include inter-bed multiple attenuation and Time-Lag FWI, that were not available at the time of the legacy imaging and can better address the complexities of the area. The integrated project team also includes geologists who are providing expertise for salt scenario testing and detailed interpretation.

Fast-track products are now available and final migrations, including a TTI Kirchhoff and 45Hz RTM, are underway. The final migrations are being processed in two phases. Phase I will be available in May, providing approximately 2,373 square kilometers of data directly over the Agata block in preparation for Round 7. Phase II will incorporate the remaining 7,007 sq km of the project area with final migrations for the full program expected in August 2021.

Dechun Lin, EVP, Multi Client, CGG, said: “The prospective Agata block lies in the vicinity of other high-profile blocks that received recent bids for exploration. The full project team, including our subsurface imaging experts in CGG’s Rio Subsurface Imaging Center, are mobilized to deliver these valuable new Agata products. The deliverables, which feature our industry-leading imaging technologies, will ensure that the best images are available to support industry decision-making in the run-up to Brazil’s 7^th Bidding Round.”

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 Delivers 9,300 sq km of Data from Agata Reimaging to Support Brazil’s 7th Bidding Round

FAQ

What is the significance of CGG's Agata Reimaging program?

CGG's Agata Reimaging program provides crucial seismic data to enhance exploration in Brazil's Santos Basin, aiding companies before the 7th Bidding Round.

When will the fast-track data from CGG's Agata program be available?

Phase I data will be available in May 2021, while the complete Phase II data is expected by August 2021.

How large is the area covered by CGG's Agata Reimaging program?

The Agata Reimaging program covers a total of 9,300 sq km in Brazil's Santos Basin.

What are the advanced technologies used in CGG's Agata program?

The program utilizes proprietary processing technologies like inter-bed multiple attenuation and Time-Lag FWI to improve imaging quality.

What are the expected outcomes of the Agata Reimaging data for investors?

Investors can expect improved decision-making and reduced exploration risks as a result of the enhanced imaging data provided by the Agata program.