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CGG: CGG wins geophysical survey projects in Papua New Guinea

PARIS, Jan. 14, 2015 (GLOBE NEWSWIRE) -- CGG announced today that it has been awarded both a land seismic and an airborne gravity survey by InterOil Corporation to assess the hydrocarbon potentialof their acreage in Papua New Guinea.

CGG's airborne group is to conduct a large FALCON® Airborne Gravity Gradiometer (AGG) survey to acquire 11,000 line km of high-resolution data with fixed-wing aircraft and 25,700 line km using rotary-wing aircraft, better suited to acquiring high-resolution measurements in the rugged terrain.

The 2D conventional land seismic award comprises a 465 km survey in InterOil's southern PPL474 and 476 permits (the Murua survey) and may include additional coverage totalling in excess of 200km to the north over their Triceratops and Raptor discoveries. To ensure robust operations in challenging operating conditions CGG will deploy 2,100 Sercel UNITE cable-free channels and autonomous seismic source technology during the two-part survey which is due to start in January and end in August 2015. CGG's Bangkok imaging center will process the land seismic data as part of the integrated service CGG is offering InterOil.

Jean-Georges Malcor, CEO, CGG, said: "CGG was a natural choice for these surveys given the long-term partnership we have developed with InterOil in the Asia-Pacific region over the last seven years. The awards also recognise both our ability to supply a fully integrated exploration solution and our capability to tightly integrate the interpretation using both the airborne geophysics and the land seismic data into a "Basin in a Box" multi-physics solution which will be highly beneficial to InterOil. They are an excellent example of how CGG's unique range of fully integrated products and services can successfully come into play and bring significant added value to our clients' exploration challenges."

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).

Contacts

Group Communications
Christophe Barnini
Tel: + 33 1 64 47 38 11
E-Mail: : invrelparis@cgg.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/1886445/667086.pdf

HUG#1886445

Source: CGG