CGG: in support of SNH in its Promotion of Open Acreages in Rio del Rey and Douala/Kribi-Campo Basins for 2018 Cameroon Licensing Round
CGG in support of SNH in its Promotion of Open Acreages in Rio del Rey and Douala/Kribi-Campo Basins for 2018 Cameroon Licensing Round
Paris, France - 18 January 2018
CGG announced today that it has an agreement with Société Nationale des Hydrocarbures (SNH), the National Oil and Gas Company of Cameroon, to promote enhanced multi-client E&P data packages and interpretative products, in support of Cameroon's 2018 Onshore & Offshore Licensing Round opened and conducted by SNH for eight free blocks on offer, located in sedimentary basins offshore and onshore Cameroon.
The Licensing Round opened on 15th January 2018 and will close on 29th June 2018. Roadshows will be held in London on 28th February to 2nd March 2018 and in Houston on 7th to 9th March 2018, with the participation of specialists from both SNH and CGG.
Cameroon is a proven hydrocarbon province with oil and gas production from both the Rio Del Rey (RDR) and Douala/Kribi-Campo (DKC) basins. Significant further opportunities exist for commercial hydrocarbon accumulations in both basins with large tracts of open acreage available, particularly in the DKC basin. Recent new petrophysical and geophysical analyses have identified potential missed opportunities from previous exploration, and there is even more potential for large volumes of hydrocarbons to be present across these increasingly prospective basins.
The TerraCubeTM suite of integrated data packages of the onshore/offshore DKC and RDR sedimentary basins will offer oil and gas explorers access to workstation-ready 2D and 3D seismic, well data and interpretative products, with unrivalled coverage, enabling them to make a rapid technical evaluation of the hydrocarbon potential of the blocks on offer.
Jean-Georges Malcor, CEO, CGG, said: "The 2018 Licensing Round offers exciting opportunities for the international oil and gas industry to add strategic acreage positions with significant potential in proven hydrocarbon-bearing basins in Cameroon. With the integrated well and seismic packages, CGG is making available, in partnership with SNH, interested oil and gas companies will be able to focus on identifying the petroleum prospectivity for the available blocks."
About CGG
CGG (www.cgg.com) is a fully integrated Geoscience company providing leading geological, geophysical and reservoir capabilities to its broad base of customers primarily from the global oil and gas industry. Through its three complementary business divisions of Equipment, Acquisition and Geology, Geophysics & Reservoir (GGR), CGG brings value across all aspects of natural resource exploration and exploitation. CGG employs over 5,300 people around the world, all with a Passion for Geoscience and working together to deliver the best solutions to its customers.
CGG is listed on the Euronext Paris SA (ISIN: 0013181864) and the New York Stock Exchange (in the form of American Depositary Shares. NYSE: CGG).
Contacts
| Group Communication Christophe Barnini Tel: + 33 1 64 47 38 11 E-Mail: : invrelparis@cgg.com | Investor Relations Catherine Leveau Tel: +33 1 64 47 34 89 E-mail: : invrelparis@cgg.com |
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