CGG 2D Survey Offshore Gabon Completed

Paris, France – April 10, 2019

Acquisition of CGG’s 9,800 km long-offset broadband 2D multi-client seismic survey in the highly prospective Gabon South Basin has been completed. Fast-track data sets will be delivered in batches from the end of April, giving interested oil companies sufficient time to understand offshore petroleum systems and appraise blocks offered in Gabon’s 12th offshore licensing round planned for September 2019.

This modern data set will help define the full extent of existing and new plays in the region. It will also aid in understanding the thickness variations in the sediment overburden for source rock and maturity analysis. Broad bandwidth data will not only increase resolution and improve characterization of the turbidite systems that represent potential exploration targets, it also provides deep imaging penetration with low frequencies to help describe the nature of the crust. New insights from this data will expand and update CGG’s Gabon South Basin JumpStart™ integrated geoscience package.

Sophie Zurquiyah, CEO, CGG, said: “The vast offshore acreage of Gabon includes unexplored areas with good potential for a hydrocarbon system. However, there is often not enough high-quality geological and geophysical data to effectively reduce the exploration risks. This new 2D survey, which received significant industry pre-funding, puts the right data in the hands of our clients at the right time, enabling them to de-risk opportunities and select the appropriate blocks during the current licensing round. It also extends CGG’s data coverage from our recent 3D survey further inshore, which led to two successful discovery wells.”

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 around 5,100 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: 0013181864).

Contacts

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

 

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