CGG : CGG Begins Multi-Client Survey of Espirito Santo Basin

PARIS, May 15, 2014 (GLOBE NEWSWIRE) -- CGG announced today that it has started acquiring a large BroadSeisTM 3D multi-client survey program in the deep and ultra-deep waters of the Espirito Santo Basin. The project has received high prefunding from major industry players.

The Espirito Santo Phase III survey will cover an area of over 9,500 km². The high-end BroadSeis data will be processed at CGG's Latin America subsurface imaging hub in Rio de Janeiro through advanced PSDM workflows in order to meet the specific imaging challenges of the Espirito Santo Basin sub-salt plays.

Jean-Georges Malcor, CEO, CGG, said: "We are delighted to conduct this new multi-client project in the Espirito Santo Basin where CGG's recognized broadband imaging solutions will help to further unlock the fantastic potential of this basin. This program will add to the recent success of our broadband technology in the Santos Basin where CGG owns the largest 3D multi-client seismic library."

About CGG

CGG ( ) 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 over 9,800 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).

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Source: CGG