PARIS, Sept. 20, 2016 (GLOBE NEWSWIRE) -- CGG announced today that the Fast Trax(TM) Reverse Time Migration (RTM) data from its Encontrado multi-client mega-merge project covering the Perdido fold belt has been delivered on time to the industry and the Comision Nacional de Hidrocarburos (CNH) ahead of Mexico's December Licensing Round.

The Fast Trax results are available now for license on a non-exclusive basis, with final imaging datasets expected in the summer of 2017.
                            
The Encontrado reprocessing project is a unique merge of over 38,000 km² of wide-azimuth data from over nine previously acquired and processed surveys, covering some of the most prospective areas of the Gulf of Mexico, including the Great White and Trion discovery to the north and Corfu and Ixcuta further south. Over 35,000 km² of the data is in the Mexican Gulf of Mexico. The data is being processed through an advanced high-end sequence, including bandwidth extension and 3D deghosting, 3D SRME and advanced imaging using TTI RTM and Kirchhoff migrations. Tomography and Full-Waveform Inversion (FWI) are being used to enhance the velocity model.

Jean-Georges Malcor, CEO, CGG, said: "At a time when Mexico is opening up its oil and gas sector to new players, CGG is capitalizing on the wealth of local experience it has gained in high-end deepwater acquisition and processing to help them make better decisions, faster. We have therefore timed delivery of our Encontrado Fast Trax results to give the industry a previously unavailable, very large regional overview of the exploration blocks being offered in Mexico's Licensing Round based on ultramodern subsurface images."

About CGG

CGG ( www.cgg.com ) is a fully integrated Geoscience company providing leading geological, geophysical and reservoir capabilities to its broad base of customers primarily from the global oil and gas industry. Through its three complementary businesses of Equipment, Acquisition and Geology, Geophysics & Reservoir (GGR), CGG brings value across all aspects of natural resource exploration and exploitation.

CGG employs more than 6,500 people around the world, all with a Passion for Geoscience and working together to deliver the best solutions to its customers.

CGG is listed on the Euronext Paris SA (ISIN: 0013181864 ) and the New York Stock Exchange (in the form of American Depositary Shares. NYSE: CGG).

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