Russia: Marine seismic joint venture formed

CGGVeritas and JSC Geotech Holding signed a term sheet to create a joint venture to operate 2D and 3D marine seismic vessels in Russian and CIS waters.

By OGJ editors
HOUSTON, Feb. 25
– CGGVeritas and JSC Geotech Holding signed a term sheet to create a joint venture to operate 2D and 3D marine seismic vessels in Russian and CIS waters.

The joint venture will provide marine seismic data acquisition and processing services. CGGVeritas will make available one 2D ice class vessel and one 3D ice class vessel to the joint venture.

CGGVeritas noted that the joint venture’s creation comes at a time when Russian and CIS Arctic exploration and production is becoming more important.

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