CGG has been awarded a four-year contract extension of its dedicated reservoir services centre for Petrobras in Rio de Janeiro, Brazil.
Its in-house team of reservoir characterization specialists have worked closely with Petrobras for the last 15 years, supporting its asset teams in optimizing the value of its seismic data and resolving complex geophysical challenges present in Brazil’s pre-salt and post-salt fields.
Under the terms of the contract, CGG will continue to provide its proven reservoir characterization workflows, such as geostatistical, 4D and azimuthal inversion, while also bringing new state-of-the-art technologies to Brazil to further enhance reservoir understanding. These include its EBPetro and EBMatch ensemble-based petrophysical inversion and history matching, machine learning-augmented rock physics workflows, PP-PS inversion and joint azimuthal inversion of amplitudes and velocities.
Peter Whiting, EVP, Geoscience, CGG, said: “Over the course of our longstanding partnership with Petrobras, our dedicated reservoir services center has established a strong reputation for technical excellence. We look forward to continuing to provide the highest standard of service and demonstrating the uplift that our latest proprietary reservoir characterisation capabilities can bring to reservoir understanding in Brazil.”
In other news,CGG announced that Sercel has been selected as the successful bidder for the acquisition of ION Geophysical Corporation’s (“ION”) software business.
Sercel intends to keep all employees associated with this business.
The acquisition is in connection with ION’s recently announced U.S. chapter 11 bankruptcy process.
The closing of the transaction is subject to approval by the bankruptcy court and other customary conditions, including regulatory approvals. The acquisition is expected to close in the third or fourth quarter of 2022.