CGGVeritas Announces Future Marine Joint Venture with Petrovietnam

CGGVeritas Announces Future Marine Joint Venture with Petrovietnam

CGGVeritas (ISIN: 0000120164 – NYSE: CGV) announced today that it has signed a term sheet with Petrovietnam Technical Services Corporation (PTSC) to create a 2D/3D marine joint venture to operate 2D and 3D marine seismic vessels, primarily in Vietnamese waters.

The joint venture will provide seismic data acquisition services for the oil and gas clients operating locally in Vietnam and the region.

Jean-Georges Malcor CEO of CGGVeritas, said: “Strengthening long term relationships with our clients is an important priority for CGGVeritas. This marine Joint Venture with Petrovietnam further materializes the well established long term cooperation between our two companies that is founded on technology and a deep knowledge of the local geological content.

The full breadth of CGGVeritas will support this joint venture focusing on developing seismic marine acquisition and processing solutions dedicated to the Vietnamese offshore exploration challenges. ”

About CGGVeritas

CGGVeritas (www.cggveritas.com) is a leading international pure-play geophysical company delivering a wide range of technologies, services and equipment through Sercel, to its broad base of customers mainly throughout the global oil and gas industry.

CGGVeritas is listed on the Euronext Paris (ISIN: 0000120164) and the New York Stock Exchange (in the form of American Depositary Shares, NYSE: CGV).

Investor Relations Contacts:

Paris: Houston:
Christophe Barnini Hovey Cox
Tel: +33-16-447-3811 Tel: +1-832-351-8821
E-Mail: invrelparis@cggveritas.com E-Mail: invrelhouston@cggveritas.com

ISSUERS OF NEWS RELEASES AND NOT OILANDGASPRESS.COM ARE SOLELY RESPONSIBLE FOR THE ACCURACY OF THE CONTENT.
Public relations, press release distribution service, investor relations, SEC filing, regulatory news,upstream, downstream,corporate announcements,technology developments and political news
www.oilandgaspress.com – The ‘one stop shop’ for global Oil and gas press releases!!!

#FOLLOW US ON INSTAGRAM