CGG, ViaLogy enter collaboration agreement
ViaLogy Plc (AIM:VIY) and CGG (NYSE:CGG) have signed a business and technical collaboration agreement.
Offshore staff
LONDON – ViaLogy Plc (AIM:VIY) and CGG (NYSE:CGG) have signed a business and technical collaboration agreement.
ViaLogy gets global sales and services locations, access to CGG customers, assistance in scaling ViaLogy’s QuantumRD technology to large geographical areas, and specialized high-tech data processing to prepare seismic datasets for QuantumRD. Support in the form of CGG personnel, facilities, past project experience, and assistance with tender submissions are also part of the arrangement.
CGG will receive reimbursement for services, and will be able to monitor and exploit the QuantumRD technology for business and technical purposes, and collaborate on an exclusive basis with ViaLogy technologists.
The joint objective is to deliver analysis results on large development projects to mitigate risk. CGG will process all data for ViaLogy analysis.
Any joint development projects that arise from the collaboration will be owned by ViaLogy and used royalty-free by CGG.
4/30/13
