CGGVeritas has signed a term sheet with Petrovietnam Technical Services Corporation (PTSC) to create a 2D/3D marine joint venture to operate 2D and 3D marine seismic vessels, primarily in Vietnamese waters.

The joint venture will provide seismic data acquisition services for the oil and gas clients operating locally in Vietnam and the region.

Jean-Georges Malcor CEO of CGGVeritas, said: “Strengthening long term relationships with our clients is an important priority for CGGVeritas. This marine Joint Venture with Petrovietnam further materializes the well established long term cooperation between our two companies that is founded on technology and a deep knowledge of the local geological content.

The full breadth of CGGVeritas will support this joint venture focusing on developing seismic marine acquisition and processing solutions dedicated to the Vietnamese offshore exploration challenges. ”

Tags: CGGVeritas