CGGVeritas announced that it has signed a Technology Cooperation Agreement (TCA) with the Brazilian energy company, Petrobras, for the collaborative development and implementation of new technologies in the field of Geophysics.
The TCA sets the framework for collaborative research projects between Petrobras and CGGVeritas over a three-year time period in specific areas such as 4D seismic processing, imaging and reservoir geophysics.
These research projects will be conducted at a recently opened CGGVeritas Technology Center in Rio de Janeiro. The TCA was signed by Robert Brunck, Chairman and CEO of CGGVeritas, at the inauguration ceremony for this new Technology Center.
The Rio Technology Center is designed to offer oil and gas operators in Brazil direct access to geophysical technology developed or customized by a dedicated R&D team focused on solving local geophysical challenges.
The Rio Technology Center is also developing partnerships with top universities recognized in Brazil as leaders in advanced geophysical studies such as the State University of Campinas, the Federal University of Pará, and the State University of North Fluminense.
Robert Brunck, Chairman and CEO of CGGVeritas, said: “We are extremely honored to sign this Technology Cooperation Agreement with Petrobras, a leading energy provider to whom we have had the privilege of providing seismic acquisition and processing services since 1961. We look forward to building on this successful partnership and widening our technical cooperation through the joint pursuit of strategic R&D projects for the development of innovative, customized technologies that will improve the understanding of the geological challenges prevalent here in Brazil and the wider Latin America region.”
About CGGVeritas
CGGVeritas 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 and the New York Stock Exchange.
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Source: CGGVeritas, June 17, 2010