CGG Licenses New GeoVerse™ Carbon Storage Multi-Client Study to TotalEnergies

Rhea-AI Summary

CGG has licensed its new GeoVerse™ Carbon Storage multi-client study to TotalEnergies, marking a significant endorsement for CGG's innovative data-driven screening studies aimed at enhancing decision-making in carbon storage. This licensing deal highlights CGG's expertise in geoscience and data integration, including advancements in machine learning and high-performance computing. The GeoVerse studies support energy transition efforts by assessing carbon and geothermal resources.

Positive

• Licensing of GeoVerse Carbon Storage study to TotalEnergies signifies confidence in CGG's expertise.
• GeoVerse studies utilize advanced data science and machine learning for accurate assessment.
• CGG expands its product range to support energy transition and carbon storage efforts.

Negative

• None.

CGG Licenses New GeoVerse™ Carbon Storage Multi-Client Study to TotalEnergies

Paris, France – September 27, 2022

CGG Earth Data continues to expand its new GeoVerse Carbon Storage database and screening studies. These studies provide an accurate, unique, and independent assessment of carbon storage opportunities coupled with a desktop-ready database required for informed and rapid decision making. CGG’s latest addition to this growing suite of products has been licensed to TotalEnergies.

GeoVerse Carbon Storage studies are built by incorporating knowledge from CGG subject matter experts with key technological advancements in data science, high-performance computing (HPC), and machine learning (ML) workflows.

Dechun Lin, EVP, Earth Data, CGG, said: “We are delighted to receive such an early and significant endorsement of our new expert-driven, data-rich screening studies that leverage our data integration capabilities, technology and geoscience expertise to address energy transition challenges in the areas of geothermal resources, critical minerals and carbon storage. CGG is well positioned to uniquely support the evaluation of carbon and energy storage and we are demonstrating our commitment to delivering valuable energy transition decision support tools with this exciting expansion of our product range.”

About CGG

CGG (www.cgg.com) 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).

Contacts

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

 

Attachment

• CGG PR Geoverse CCUS Total Eng Final

FAQ

What is the GeoVerse Carbon Storage study licensed to TotalEnergies?

The GeoVerse Carbon Storage study is a multi-client study by CGG that offers a comprehensive assessment of carbon storage opportunities.

How does the GeoVerse study support energy transition?

The GeoVerse study aids energy transition by providing data-driven insights into carbon and geothermal resources.

What technologies are used in the GeoVerse Carbon Storage studies?

The studies incorporate machine learning, high-performance computing, and data science techniques for accurate analysis.

When was the licensing agreement with TotalEnergies announced?

The licensing agreement was announced on September 27, 2022.

What is CGG's role in the energy transition?

CGG provides data integration, technology, and geoscience expertise to help address challenges in carbon and energy storage.