PEMEX hires CGG Veritas for $464 million seismic job

Mexican national oil company PEMEX has hired CGG Veritas for a five-year, $464 million deepwater seismic survey contract, the company says.

Offshore staff

MEXICO CITY– Mexican national oil company PEMEX has hired CGG Veritas for a five-year, $464 million deepwater seismic survey contract, the company says.

The deal is one of the largest exploration contracts in the history of the company, with more than 75,000 sq. km (28,958 sq mi) of 3D seismic data to be acquired.

The survey will set the stage for PEMEX to begin new deepwater exploration and production projects in the Gulf of Mexico, where some 30 billion bbl are thought to exist, or more than half of the country’s total petroleum reserves. CGG Veritas’ wide-azimuth 3D seismic technology will enable precise interpretation, PEMEX says.

09/08/2009

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