CGGVeritas and Saudi Aramco in Major R&D Collaboration to Develop New Solution for Seabed Seismic Acquisition

Five months after CGGVeritas (Paris:GA) (NYSE: CGV) and Saudi Aramco signed a Memorandum of Understanding (MOU) for collaborative research and the development of geophysical acquisition, processing, analysis and interpretation technologies, the two companies have entered into a collaboration to conduct a major joint R&D project, known as SpiceRackTM, intended to herald a new innovative solution for seabed seismic acquisition. Under the terms of the SpiceRack project, CGGVeritas and Saudi Aramco will work in close partnership to develop, manufacture, and commercialize an innovative robotized solution for seabed seismic acquisition. Based on the deployment of self-propelled recording nodes, this innovative solution is expected See full press release