CGG Veritas bids low for Kuwait seismic deal

27 April 2011

$248m deal for 3D surveys of northern fields

France’s CGG Veritas is the frontrunner for a deal to shoot complex seismic surveys in northern Kuwait for state-upstream operator Kuwait Oil Company (KOC) after submitting the lowest bid in February.

CGG Veritas submitted a proposal of $248m on 8 February, beating a rival proposal of $266m from WesternGeco, part of the US’ Schlumberger, the only other firm to bid.

The deal will involve providing a three-dimensional, single-sensor seismic survey, which will allow improved structural mapping of Kuwait’s Jurassic reservoirs in the north of Kuwait. This will range in depth down to 17,500 feet.

This involves the acquisition, processing and appraisal of a range of different data by conducting various imaging techniques that can draw a picture of what lies below the ground. This can help geologists determine the points where exploratory drilling is most likely to be successful.

The survey programme covers five areas; Sabriyah and Raudhatain, Bahrah, Abdali, Ladira-Aluja and Southeast Ratqa, covering an area of at least 2,900 square kilometres.

In April 2010, KOC and UK-Dutch oil major, Shell signed an $800m enhanced technical services agreement (ETSA) the first of its kind in the country, to help it develop Jurassic gas fields in the north of Kuwait (MEED 14:04:10).

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