CGGVeritas has provided its vessel utilization and its fleet allocation updates for the fourth quarter of 2009.

Vessel utilization for the fourth quarter 2009:

The following vessel utilization rates for the fourth quarter 2009 do not take into account the Search, one of our mid-capacity 3D vessels which was decommissioned during the quarter. In 2009, a total of four mid-capacity 3D vessels, the Harmattan, the Føhn, the Orion and the Search were decommissioned as part of our marine capacity adjustment program.

The vessel availability rate1 was 86%, including high steaming time at 7%. This compares to a 90% availability rate in the third quarter of 2009 and a 91% rate in the fourth quarter of 2008. The vessel availability rate for the full year 2009 was 89% including a 4% impact related to standby between contracts.

The vessel production rate2 was 83% as two vessels were withdrawn from operations for around one month each for repairs. Both vessels were back in production in December. This production rate compares to a 93% rate in the third quarter of 2009 and an 89% rate in the fourth quarter of 2008. The vessel production rate for the full year 2009 was 89%.

Fleet allocation update for the fourth quarter 2009:

During the fourth quarter of 2009, our 3D vessels were allocated 90% to contract and 10% to multi-client programs.

Multi-client sales for the fourth quarter 2009:

Strong multi-client sales were recorded during the quarter both offshore Brazil and in the Gulf of Mexico.

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