CGG and TAQA Signed Definitive Shareholder Agreement
2006年7月17日 - 3:00PM
PRニュース・ワイアー (英語)
PARIS, July 17 /PRNewswire-FirstCall/ -- Compagnie Generale de
Geophysique (CGG) (ISIN : 0000120164 - NYSE : GGY) announces the
closing of the transaction with Industrialization & Energy
Services Company (TAQA), related to CGG Ardiseis, which follows the
Memorandum of Understanding signed by both parties in Bahrein, on
March 27th 2006. As from June 24 2006, TAQA, CGG's long term Saudi
Partner in ARGAS, owns 49% of the capital of CGG Ardiseis, a newly
formed CGG subsidiary dedicated to Land & Shallow Water Seismic
Data Acquisition in the Middle East. CGG holds the remaining 51%.
CGG Ardiseis, located in Dubai, provides its clients with the whole
range of CGG Land and Shallow Water Acquisition Services in the
Middle East region where a sustained high activity is expected
across the next decade. The Industrialization & Energy Services
Company (TAQA) was conceived by the Saudi Ministry of Petroleum and
Mineral Resources and is tasked with establishing a wide range of
industries and services in support of the energy sector. The
company's major objective is to localize such industries and
services. It has majority ownership in two subsidiaries with
activities in exploration and drilling, Arabian Drilling Company
(ADC) and ARGAS. With several projects currently under planning and
development, TAQA is currently in a growth mode and has embarked on
a regional expansion strategy. The Compagnie Generale de
Geophysique (CGG) is a global participant in the oilfield services
industry, providing a wide range of seismic data acquisition,
processing and reservoir services and software to clients in the
Oil and Gas exploration and production business. It is also a
global manufacturer of geophysical equipment through its subsidiary
Sercel. The information included herein contains certain
forward-looking statements within the meaning of Section 27A of the
securities act of 1933 and section 21E of the Securities Exchange
Act of 1934. These forward-looking statements reflect numerous
assumptions and involve a number of risks and uncertainties as
disclosed by the Company from time to time in its filings with the
Securities and Exchange Commission. Actual results may vary
materially Contact : Christophe BARNINI +33-1-64-47-38-10 /
+33-1-64-47-38-11 Email : Internet : http://www.cgg.com/
DATASOURCE: Compagnie Generale de Geophysique (CGG) CONTACT:
Contact : Christophe BARNINI +33-1-64-47-38-10
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