USA: CGGVeritas Receives Seismic Permit in GoM

CGGVeritas announced today that it has been granted a seismic permit in the Gulf of Mexico.  Based on the award of this permit, CGGVeritas is currently in discussions with various E&P companies operating in the Gulf of Mexico to finalize the design of a new multi-client program.

The program will utilize BroadSeis, CGGVeritas’ breakthrough broadband marine solution, in a wide-azimuth configuration. Subject to the company’s standard prefunding considerations, the Gulf of Mexico program is targeted to commence in the fourth quarter of 2011.

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.

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

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Source:CGGVeritas , May 23, 2011;