CGGVeritas, a geophysical company, has signed an agreement with PT Elnusa to form a marine joint venture company.
Elnusa will own a 51% interest in the newly established company, while CGGVeritas will own the remaining interest.
The new JV, Elnusa-CGGVeritas Seismic, will deliver 2D and 3D marine seismic acquisition services to oil and gas company clients mainly operating in Indonesia and the region.
The new company will operate the Elnusa Finder seismic vessel, which will conduct its first commercial survey in Indonesia starting this month, near Madura Island in East Java, on behalf of Husky Oil.
CGGVeritas CEO Jean-Georges Malcor said that the new JV will enable the company’s long-term partner, Elnusa, to expand its capability in marine seismic services by building on local expertise and offering the benefits of the latest CGGVeritas seismic technology to regionally established clients.