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CGGVeritas in JV with Eidesvik Offshore

Posted: 2 May 2011

CGGVeritas reported a new joint venture with the Norwegian ship-owner Eidesvik Offshore to manage ten high-capacity 3D vessels in the CGGVeritas fleet, including the two new X-BOW vessels, Oceanic Vega and Oceanic Sirius.

"This new joint venture is a key step in our performance action plan," said Jean-Georges Malcor, CEO of CGGVeritas.

"It builds a strong partnership that is focused on shared objectives around the operational excellence of our marine fleet and supports our plans to streamline the number of our maritime partners. I look forward to working closer with our long-term partner Eidesvik to further strengthen our business in the future."

The joint venture, CGGVeritas Eidesvik Ship Management AS, will be based in Bergen and is 51 % owned by Eidesvik and 49 % owned by CGGVeritas.

The joint venture marks a step-change in the way CGGVeritas operates its high-end seismic vessels. It creates an integrated team of highly skilled professionals dedicated to ship management to fully support and develop the performance of the fleet. CGGVeritas and Eidesvik are both contributing resources and support to the joint venture.




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