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CGG to Acquire Large Seismic Survey for Pemex in Gulf of Mexico

CGG announced that it has been selected to acquire a large high-end seismic acquisition survey in the Mexican waters of the Gulf of Mexico on behalf of Pemex.

The survey is phase 5 in Pemex’s Centauro program, the largest ever proprietary 3D wide-azimuth program to be conducted worldwide. Phase 5 will add another 6,850 km2 of data to the existing 25,000 km2 already acquired since Centauro began in Oct 2010, bringing the total volume to almost 32,000 km2.

The survey will be acquired by the Oceanic Vega and Oceanic Sirius, CGG’s two state-of-the-art 20-streamer vessels. The project is expected to commence in mid-November and be completed in March 2014.

Antonio Escalera, VP, Exploration, Pemex, said: “Since Pemex took the innovative step of adopting wide-azimuth acquisition in 2010, this technology has consistently demonstrated its reliability at delivering superior illumination and imaging to help explore Mexico’s deep water hydrocarbon resources.”

Jean-Georges Malcor, CEO, CGG said: “This fifth phase of the Centauro program testifies to the successful long-term exploration partnership CGG has developed with Pemex in the Gulf of Mexico. We will continue to work closely with Pemex to ensure this new wide-azimuth survey meets their E&P objectives.”

Press Release, November 07, 2013

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PGS to Start Seismic Survey at Corentyne Licence, Offshore Guyana

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CGX Energy Inc.  has awarded a 1,160 square kilometre 3D marine seismic contract to a subsidiary of Petroleum Geo-Services (PGS). PGS’s Ramform Challenger will undertake the five week contract at CGX’s fully owned Corentyne PPL, offshore Guyana, commencing mid-December.

PGS is a leading geophysical services company founded in 1991 in Norway with offices in 25 countries and regional centres in London, Houston and Singapore. PGS offers a broad range of geophysical services and has 14 offshore seismic vessels.

Stephen Hermeston, President and CEO stated,

“This 3D seismic program has been designed to better image the up-dip limits of the Eagle Deep stratigraphic play at the Turonian and Campanian and to cover the two early Cretaceous, Albian prospects (Crabwood and Kabukalli) which are underlying the Company’s 100% owned Corentyne offshore Petroleum Prospecting License (PPL) and for which CGX obtained an independent resources evaluation report from DeGolyer and MacNaughton of Dallas earlier this year that provided a total best estimate (P50) of prospective resources of 325 million barrels of oil. We are enthused about these prospects which CGX plans on pursuing subsequent to the drilling of the Company’s Eagle-1 well that will test the Eocene and Maastrichtian trend.”

CGX Energy is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin, an area that is ranked second in the world for oil and gas prospectivity by the United States Geological Service. CGX is managed by a team of experienced oil and gas and finance professionals from Guyana, Canada, the United States and the United Kingdom.

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