CGGVeritas announced Thursday that it has signed a Memorandum of Understanding (MOU) with Saudi Aramco for collaborative research and development of geophysical acquisition, processing, analysis and interpretation technologies. The MOU creates a framework for Saudi Aramco and CGGVeritas to identify opportunities for research, development and testing of advanced technologies, including: automation in the seismic value chain for oil and gas exploration and field development, permanent reservoir monitoring systems, non-seismic geophysics, and inversion of seismic/non-seismic data. Jean-Georges Malcor, CEO, CGGVeritas, said: "Over the past four decades, CGGVeritas has had the privilege of providing geophysical services to Saudi Aramco, mostly through our Saudi joint venture, Argas, with TAQA." Thierry Brizard, Executive Vice President, Technology, CGGVeritas, added: "With our combined knowledge and expertise, the MOU with Saudi Aramco provides a pathway for collaborative research and development, which I expect will bring significant advancements to the science of geophysics and to the progress of reservoir characterization and management." Samer Al Ashgar, Manager, EXPEC Advanced Research Center, Saudi Aramco, said "we are pleased... (and) we look forward to augmenting research initiatives in the arena of geophysical technology, to fulfill Saudi Aramco's long-term objectives in exploration and field development."
