CGGVeritas Announces Inauguration of Saudi Arabia Technology Center
August 11 2009 - 1:00AM
Business Wire
Regulatory News:
CGGVeritas (Paris:GA) (NYSE:CGV) announced today that ARGAS, one
of its joint ventures with TAQA in the Middle East, has opened a
Technology Center in Al Khobar, Saudi Arabia. The new facility is
an open center designed to serve the oil and gas community in the
Kingdom with a suite of state-of-the-art capabilities and
resources.
This unique center offers a focal point for both local oil and
gas players and researchers from the Earth Sciences Department of
the King Fahd University of Petroleum and Minerals to benefit
from:
- co-operation with R&D
experts to address specific geophysical challenges,
- high-end processing &
imaging technologies, including a visualization center,
- access to world-class training
from CGGVeritas University.
At the inauguration ceremony, Robert Brunck, Chairman and CEO of
CGGVeritas, said: “Our investment in this Technology Center is a
significant milestone in our long and productive 40-year
partnership with TAQA in the Kingdom through our ARGAS joint
venture. Our ambition is to locally apply and advance the
sophisticated processing algorithms we develop globally in order to
unmask the embedded value of the seismic data we have been
acquiring here for so many years. CGGVeritas will continue to stand
by the side of ARGAS to serve Saudi Aramco and their partners in a
continuous drive to improve the understanding of reservoirs in
Saudi Arabia.”
About CGGVeritas
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
industry. 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.
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