MASSY, France – Shearwater GeoServices and CGG have agreed to suspend negotiation on a marine streamer technology partnership, first announced in June 2019.
This follows the downturn in the oil and gas industry caused by continued COVID-19 restrictions.
CGG said a resumption of talks would depend on a visible improvement in the streamer replacement cycle, although both parties continue to benefit from the marine acquisition partnership and remain committed to the establishment of its technology component.
During 3Q, CGG was engaged in four multi-client programs, the company added in its latest results statement. These comprised three marine streamer surveys – Nebula in Brazil, Gippsland in southeast Australia, and North Viking Graben in Norway – and one ocean bottom nodes survey in the UK North Sea.