CGGVeritas Announces Inauguration of Saudi Arabia Technology Center
PARIS, France – August 11th 2009
CGGVeritas (ISIN: 0000120164 – 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.
The inauguration ceremony was attended by senior delegations from oil and gas operators in the Kingdom, including Saudi Aramco and other international companies. Robert Brunck, Chairman and CEO of CGGVeritas, (sixth from right, front row) is standing to the left of Dr. Abdulaziz S. Al Jarbou, Chairman of TAQA. Mr. Mahmoud M. Abdulbaqi, Chairman of ARGAS, is standing third from left, front row).
- cooperation 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."
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).
|Investor Relations Contacts|
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.