Franco-Russian Arctic venture
CGG of France and Sovcomflot of Russia have signed an agreement to form a joint-venture company dedicated to conducting high-end 3D seismic acquisition services in Arctic and sub-Arctic waters. CGG will charter a 14-streamer ice-class vessel while Sovcomflot will add the capabilities of a similar 8-streamer vessel.
The company, Arctic Geophysical Exploration (AGE), will be based in Moscow and is 51% owned by Sovcomflot and 49% by CGG. Its primary aim is to provide world-class 3D seismic acquisition services to operators during the Arctic navigation season which usually begins in July and ends in November. It will also offer its vessel capabilities to the international market for the remainder of the year while accessing seismic technologies from CGG’s worldwide operational and technical support resources.
By David Goodfellow
