According to CGGVeritas it has also received a letter of cancellation from PDVSA relating to the previously announced six-month land 3D seismic survey in Venezuela.
For BP, the first contract encompasses an Arctic Ocean exploration 3D survey in the Canadian Beaufort Sea. This project, with an option to extend for a second season, is expected to commence in summer 2009.
The second contract comprises multiple wide-azimuth and 4D reservoir management surveys in the Gulf of Mexico, said the company.
The Gulf of Mexico program is expected to commence early in 2009, with part of the program being acquired in 2010, and includes options for further extensions. The total value of these new BP contracts, not including optional extensions, is expected to be approximately $130 million.
Earlier in the first week of December 2008, CGGVeritas announced that it has been awarded a multi-year contract extension by Petroleum Development Oman (PDO) to perform seismic data processing and imaging services at its Mina Al Fahal site. The contract extension is expected to commence January 2009 and continue through 2011 with an option to extend for an additional year.
CGGVeritas is an international pure-play geophysical company delivering technologies, services and equipment through Sercel, to its customers mainly throughout the global oil and gas industry.
