CGG :Second CGG BroadSeis multi-client survey in Norway offers new seismic footprint in Barents Sea

PARIS, Oct. 9, 2013 (GLOBE NEWSWIRE) --

Second CGG BroadSeis multi-client survey in Norway offers new seismic footprint in Barents Sea CGG announced today that it has successfully completed a second BroadSeis(TM) multi-client survey offshore Norway. The survey covers a 2,300 km(2 )areain the BarentsSea. Fast-track processing deliverables will be available by the end of 2013 and final processing products by August 2014. This second BroadSeis 3D survey is located in the southeastern part of the Barents Sea adjacent to the recent eastward extension of Norwegian territory as a result of the border agreement between Norway and Russia. New data is required to assess the petroleum potential in this region. The Barents Sea BroadSeis survey follows on from CGG's recent first BroadSeis multi-client survey offshore Norway which targeted the Halten Terrace. The industry has shown strong interest in this new multi-client data acquired with CGG's broadband technology and initial results just released show a significant improvement in the imaging of deeper targets. Jean-Georges Malcor, CEO, CGG, said: "CGG regards Norway as an important region for the expansion of its multi-client activities and is working on several new projects including the Barents Sea survey. Our geologists are optimistic about this region's oil potential and we consider it to be a strong candidate for inclusion in Norway's 23(rd) licensing round set to take place in the second half of 2014. Our recently expanded team of multi-client experts in Norway drew on their extensive knowledge of the Barents Sea region to design this BroadSeis survey and we are convinced that the resulting images will enhance the industry's geological understanding of this promising region." About CGG CGG (www.cgg.com) is a fully integrated Geoscience company providing leading geological, geophysical and reservoir capabilities to its broad base of customers primarily from the global oil and gas industry. Through its three complementary business divisions of Equipment, Acquisition and Geology, Geophysics & Reservoir (GGR), CGG brings value across all aspects of natural resource exploration and exploitation. CGG employs 10,000 people around the world, all with a Passion for Geoscience and working together to deliver the best solutions to its customers. CGG is listed on the Euronext Paris SA (ISIN: 0000120164) and the New York Stock Exchange (in the form of American Depositary Shares. NYSE: CGG). Contacts Communications Christophe Barnini Tel: +33 1 64 47 38 11 E-Mail: invrelparis@cgg.com CGG - Barents Sea MC Survey: http://hugin.info/142000/R/1734409/580890.pdf [HUG#1734409] Source: CGG