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CGG : BP and CGG Agree to Develop Next-Generation Marine Seismic Source Technology

PARIS, Oct. 28, 2014 (GLOBE NEWSWIRE) -- CGG and BP today announced an agreement for collaborative research and development in the field of new types of marine vibratory seismic sources. The agreement combines the companies' research efforts and expertise to develop and deploy innovative seismic source technology, and builds on successful prototype trials.

Seismic surveys have for decades been the exploration industry's key tool for identifying oil- and gas-bearing rocks below the seabed. And both BP and CGG recognize the significant potential for new vibratory seismic sources to improve technical performance, while maintaining a focus on environmental sensitivity.

"BP has an established track record of innovation and industry leadership in the area of seismic acquisition, which plays to our notable strengths in exploration and resource progression," said Eric Green, Vice President, Advanced Seismic Imaging Technology, at BP. "This agreement highlights BP's ongoing commitment to remaining at the forefront of this important field. We welcome this exciting opportunity to cooperate on novel marine source technology with CGG."

Thierry Brizard, Executive Vice President, Technology, CGG, said: "Historically, CGG has consistently taken the lead in the development and implementation of new technological advances for seismic acquisition. Recent examples are our BroadSeis-BroadSourceTM technology for true broadband marine seismic imaging and our Sercel 508XT, which sets the new standard for onshore MegaCrew acquisition. We look forward to joining forces with BP to develop new seismic source technology that will have a profound impact on the future of the seismic industry."

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 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).

About BP

BP is one of the world's leading international oil and gas companies, with more than 80,000 employees in around 80 countries. Our strengths lie in exploration and discovery, deepwater, giant fields and gas value chains, and a high-quality downstream business - all supported by leading-edge technology. We provide our customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving, and petrochemical products used to make everyday items as diverse as paints, clothes and packaging. www.bp.com .

Contacts

Group Communication
Christophe Barnini
Tel: + 33 1 64 47 38 11
E-Mail: : invrelparis@cgg.com



BP Press Office
Tel: +44 207 496 4076
E-Mail: bppress@bp.com

Investor Relations
Catherine Leveau
Tel: +33 1 64 47 34 89
E-mail: : invrelparis@cgg.com





Press Release - pdf version http://hugin.info/142000/R/1866053/655423.pdf

HUG#1866053

Source: CGG