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CGG: Registered by CNH to Estimate Reserves in Mexico

CGG Registered by CNH
to Estimate Reserves in Mexico

PARIS, May 17, 2016 (GLOBE NEWSWIRE) --

CGG has announced that its Mexican entity, CGGVeritas Services de México S.A. de C.V. (CGG), has become one of only a small number of companies to be registered by Mexico's National Hydrocarbons Commission (CNH) as an independent third party qualified to audit and certify Mexico's reserves, either for oil and gas operators or directly for the CNH.

CGG GeoConsulting's Robertson petroleum reservoir & economics group specializes in a wide range of geoscience, reservoir engineering, facilities engineering, and economics consultancy services. It has a specialist certifier level and considerable experience in conducting audits using the Petroleum Resources Management System (PRMS), the international standard for defining and reporting petroleum reserves and resources.

Registration of CGG's auditing and reporting expertise will apply to all of Mexico's oil and natural gas resources from conventional to unconventional in both offshore and onshore settings.

Jean-Georges Malcor, CEO, CGG, said: "CGG has over twenty-five years of operating history in Mexico, during which time it has consistently taken the lead in introducing the latest geological, geophysical and reservoir technologies to support Mexico's exploration, development and production challenges. It therefore seems fitting that, with our wider geoscience capabilities, we can now extend this role as a registered reserves auditor for Mexico."

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 businesses of Equipment, Acquisition and Geology, Geophysics & Reservoir (GGR), CGG brings value across all aspects of natural resource exploration and exploitation.
CGG employs more than 7,000 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

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/2012748/745755.pdf

HUG#2012748

Source: CGG