PARIS, Oct. 28, 2014 (GLOBE NEWSWIRE) -- CGG announced today that PowerLog® has been selected by Baker Hughes Incorporated as its petrophysical software application of choice.
PowerLog is CGG's petrophysical software for well log analysis. As part of the Baker Hughes-CGG strategic alliance, the two companies have collaborated under a joint software development agreement to enhance PowerLog for its deployment as the preferred petrophysical software of Baker Hughes.
Jean-Georges Malcor, CEO CGG, said: "Our strategic alliance with Baker Hughes, which is focused on shale optimization, brownfield development and software collaboration, is delivering tangible results. Now, with the first results of our software development agreement coming to fruition, we add a new and important aspect to this relationship with the delivery of our combined capabilities to the desktops of our clients to further improve their exploration and production performance."
PowerLog is designed for efficient multi-user environments and enables petrophysicists, geophysicists, geologists and engineers to collaborate to better understand the reservoir. Greater insight into subsurface rock and fluid properties can significantly improve completion design and enable E&P companies to reduce their costs and risks while drilling more productive wells.
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 over 9,500 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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