Paris, France – September 18, 2019
CGG announced today that its Geoscience division has completed, five months early, the multi-year integrated geoscience study awarded by Kuwait Gulf Oil Company (KGOC) in early 2017. The study’s main objective was to identify resource growth potential in the mature, onshore Partitioned Zone (PZ).
The prospecting and remaining resource assessment study was conducted by CGG Geoscience’s Houston team and, importantly, involved KGOC experts embedded in the team for the duration of the project.
The co-located team worked together to integrate recently acquired and processed 3D seismic data covering the entire onshore PZ, with multiple geological, petrophysical and production data sets to deliver a robust portfolio of exploration prospects and leads as well as asset development infill opportunities for the existing fields.
Mohammad Al-Haimer, DCEO Joint Operations, KGOC, said: "This has always been a prestigious and highly important project for KGOC and we are extremely pleased with the work that CGG, together with our experts, has produced. Particularly impressive were CGG’s integrated geoscience capabilities, the depth of knowledge they brought to the project and the knowledge transfer that occurred throughout the project. We now have a portfolio of credible oil and gas targets that we can draw on for an extended five-year exploration campaign commencing early 2020. Additionally, we are pleased that the work generated a joint patent application utilizing KGOC’s knowledge and data and CGG’s know-how, workflows and software.” Sophie Zurquiyah, CEO, CGG, said: "We are delighted to have successfully delivered this high-profile integrated study to KGOC ahead of schedule. Our Houston Geoscience team drew on its full range of expertise from geological control, through rock physics and seismic inversion, to prospect identification and production attribute analysis, to help generate a robust exploration portfolio catalogue in the PZ’s mature hydrocarbon habitat. We are proud to have delivered insight and value to KGOC to help it achieve its future business objectives.”
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 businesses of Equipment, Acquisition and Geology, Geophysics & Reservoir (GGR), CGG brings value across all aspects of natural resource exploration and exploitation. CGG employs around 5,100 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).
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