RIO DE JANEIRO–(Business Wire)–
CGGVeritas (ISIN: 0000120164 – NYSE: CGV) (Paris:GA) (NYSE:CGV) announced today
that it has signed a Technology Cooperation Agreement (TCA) with the Brazilian
energy company, Petrobras, for the collaborative development and implementation
of new technologies in the field of Geophysics.
The TCA sets the framework for collaborative research projects between Petrobras
and CGGVeritas over a three-year time period in specific areas such as 4D
seismic processing, imaging and reservoir geophysics.
These research projects will be conducted at a recently opened CGGVeritas
Technology Center in Rio de Janeiro. The TCA was signed by Robert Brunck,
Chairman and CEO of CGGVeritas, at the inauguration ceremony for this new
The Rio Technology Center is designed to offer oil and gas operators in Brazil
direct access to geophysical technology developed or customized by a dedicated
R&D team focused on solving local geophysical challenges.
The Rio Technology Center is also developing partnerships with top universities
recognized in Brazil as leaders in advanced geophysical studies such as the
State University of Campinas, the Federal University of Pará, and the State
University of North Fluminense.
Robert Brunck, Chairman and CEO of CGGVeritas, said: “We are extremely honored
to sign this Technology Cooperation Agreement with Petrobras, a leading energy
provider to whom we have had the privilege of providing seismic acquisition and
processing services since 1961. We look forward to building on this successful
partnership and widening our technical cooperation through the joint pursuit of
strategic R&D projects for the development of innovative, customized
technologies that will improve the understanding of the geological challenges
prevalent here in Brazil and the wider Latin America region.”
CGGVeritas (www.cggveritas.com) is a leading international pure-play geophysical
company delivering a wide range of technologies, services and equipment through
Sercel, to its broad base of customers mainly throughout the global oil and gas
CGGVeritas is listed on the Euronext Paris (ISIN: 0000120164) and the New York
Stock Exchange (in the form of American Depositary Shares, NYSE: CGV).
The information included herein contains certain forward-looking statements
within the meaning of Section 27A of the securities act of 1933 and section 21E
of the Securities Exchange Act of 1934. These forward-looking statements reflect
numerous assumptions and involve a number of risks and uncertainties as
disclosed by the Company from time to time in its filings with the Securities
and Exchange Commission. Actual results may vary materially.
Investor Relations Contacts:
Tel: +33 1 64 47 38 10
Tel: +1 832 351 8821
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