CGGVeritas Provides Technical Support for Syrian International Offshore 2011 Bid Round

The Syrian Ministry of Petroleum and Mineral Resources along with the General Petroleum Corporation (GPC) announced on 24th March 2011 the opening of the International Offshore Bid Round 2011 and will be inviting interested oil and gas exploration companies to participate.

CGGVeritas, as part of an exclusive contract with the Ministry and GPC, is providing the technical support for the Bid Round. CGGVeritas will co-host roadshow events and data reviews with the Round organizers in Damascus, London and Geneva for companies interested in the official available technical data covering the entire Offshore Syria area.

Central to this project is 5,000 km of long-offset multi-client 2D seismic data acquired by CGGVeritas in 2005 in water depths ranging from 500 to 1,700 m. A minimum of 3,000 km of this data must be licensed by each oil company interested in bidding in this Round.

In addition to the original survey data, CGGVeritas is offering an interpretation package, gravity data, seep data and a reprocessed seismic dataset, currently in production. Reprocessing results to date show an uplift at all levels of the seismic data.

Jim Martin, VP, Multi-Client & New Ventures, Africa, Middle East & Central Asia, CGGVeritas, said: “Given industry interest in the Eastern Mediterranean, following the recent major gas discoveries in the Levantine Basin, the regional long-offset coverage provided by our seismic data set, as well as the associated gravity data and interpretation package, will be of significant value in helping the GPC and interested oil and gas companies evaluate the highly prospective key basins offshore Syria. The data shows key seismic indicators including bright spots, flat spots, gas chimneys and dimming which point to the presence of an active petroleum system.”

About CGGVeritas

CGGVeritas  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.

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Source:CGG Veritas , April 1, 2011;