CGGVeritas (ISIN: 0000120164 - NYSE: CGV) today announced the award by Saudi Aramco for two major contracts to acquire 3D seismic seabed (OBC) to ARGAS, its joint venture in Saudi Arabia, owned 49% by CGGVeritas and 51% by TAQA.

CGGVeritas (ISIN: 0000120164 - NYSE: CGV) today announced the award by Saudi Aramco for two major contracts to acquire 3D seismic seabed (OBC) to ARGAS, its joint venture in Saudi Arabia, owned 49% by CGGVeritas and 51% by TAQA. The total value of these contracts is approximately $ 375 million.

The first project is planned to start in June 2010 and last for 18 months while the second project should begin in October 2010 and last 24 months. Each contract includes an option for extension by 18 and 24 months.

These projects will cover an initial area of 6,000 km2 in parts of the Gulf which will mobilize all our expertise to operate in areas characterized by production in oil fields, waterways and highly charged water depths of 20 to 60 meters.

ARGAS implement OBC two teams, each featuring the last recording system seabed four components, Sercel SeaRay. These operations, conducted entirely at sea, is realized with a fleet of vessels equipped with systems for deployment and positioning specifically developed by CGGVeritas for these environments.

Robert Brunck, Chairman and CEO of CGGVeritas said: "Our partner Taqa and we ourselves are very pleased to award the new contracts, which are consolidating the long-term collaboration established between Saudi Aramco and our joint venture Argas. Both studies follow a series of offshore projects successfully completed by ARGAS in 2009 on an area of approximately 12,000 km2 in Saudi waters. Our position as a world leader in the field of seismic acquisition of seabed it is thus enhanced. "