PTTEP renews CGG’s dedicated center contract in Thailand
- Business & Finance
French geophysical company CGG has won a contract renewal from Thailand’s PTT Exploration & Production Public Company Limited (PTTEP) for the dedicated processing center (DPC) in Bangkok.
CGG has been operating the center in Bangkok on PTTEP’s behalf since November 2013.
The French company, which recently filed for bankruptcy in France and the U.S., said on Tuesday that the new contract with PTTEP will run for a further three years, from March 1, 2017 to February 28, 2020.
According to CGG, the dedicated processing center is a key component in PTTEP’s strategy to invest in new technology to be more precise in petroleum exploration and more efficient in production. CGG will continue to support PTTEP by delivering processing services, including time and depth imaging, for 2D and 3D onshore and offshore seismic data acquired in PTTEP’s operating areas worldwide.
CGG will also provide in-house processing training, technology updates and mentoring support to develop PTTEP’s seismic processing experts required for PTTEP’s business in Thailand and overseas.
Jean-Georges Malcor, CEO, CGG, said: “CGG has been involved in most of the discoveries made in Thailand over the last 50 years. During that time, we have gained very deep in-country operational experience and developed a strong long-term business relationship with PTTEP. We are delighted that they wish to continue benefiting from our advanced subsurface imaging technology, expertise and service excellence in house to help them explore for new discoveries and increase recovery from their petroleum reservoir assets to secure domestic supply and support country growth.”