CGG confirms another client commitment to its StagSeis solution in the Gulf of Mexico

Submitted by Editorial on Fri, 2014-11-21 16:38

21st November 2014

CGG announced today another significant commitment from an exploration and production company to its StagSeis multi-client solution in the Gulf of Mexico, this time with an earlier prefunder expanding their position

CGG confirms another client commitment to its StagSeis solution in the Gulf of Mexico

StagSeis is a 'next-generation' solution for subsalt imaging designed to reduce exploration and production risk by providing the best seismic images

Following completion of acquisition in October, StagSeis presales of all three surveys, IBALT, DEUX and TROIS, have continued to strengthen, both with new companies joining, and with repeat customers increasing their commitments.

Jean-Georges Malcor, CEO, CGG, said: “With eight companies now prefunding StagSeis, including one who recently committed to the entire 871-offshore-block acreage, representing over 20,000 square kilometres, we are very pleased with this new client commitment and the overall very strong client interest we are seeing in the programme. This high level of underwriting confirms the industry’s recognition that StagSeis produces better subsalt images of the most challenging areas of the Gulf of Mexico and validates its superior value.”

Imaged by CGG, and covering the complex subsalt plays in select locations of Garden Banks, Keathley Canyon, Walker Ridge and Green Canyon, the StagSeis solution is an optimal tool to help oil and gas companies’ best manage their exploration and production programmes and make informed decisions on the large number of lease blocks to be auctioned in the deepwater Gulf of Mexico through 2020.