CGGVeritas (ISIN: 0000120164 - NYSE: CGV) announced today that it has been awarded a contract by Pemex to acquire and process 75,000 km² of 3D seismic data offshore Gulf of Mexico. The program is expected to start in October 2009 and extend through 2013. Total contract value is approximately $465 million.
The day rate contract includes 3D and wide-azimuth offshore acquisition, onboard and onshore imaging as well as gravity and magnetic acquisition and processing. Marine acquisition work will be performed by the Alizé, a high-end CGGVeritas vessel equipped with 12 Sercel Sentinel streamers.
According to Robert Brunck, Chairman and CEO, of CGGVeritas: "We are very pleased to have been chosen for this important contract, based on our unique portfolio of technologies and our deep in country operational experience across all activities. This multi-year project underlines the confidence Pemex has in our technology and our expertise. The award further extends our leadership position in the high-end segment of the market."