France-based geophysical services company CGG said it has opened a subsurface imaging centre in Yangon to service and support the anticipated growth in Myanmar’s oil and gas exploration sector
The new centre is the first of its kind to be opened in Myanmar by a major international geoscience company.
Sophie Zurquiyah, senior executive vice president, geology, geophysics and reservoir, CGG, said: “With the Myanmar government’s recent award of 16 onshore and 20 offshore blocks to international and local oil and gas companies, we foresee a quickening in the pace of exploration activity over the next 18 months.”
Zurquiyah said CGG’s subsurface imaging centre’s launch underlines its commitment to participating in the opening up of Myanmar to the international energy and petroleum industry.
“We intend to build on our new centre’s strong local presence to help unlock the potential of this emerging market.”
CGG said the aim of the centre is to give international and local energy and petroleum companies operating in Myanmar onsite access to CGG’s industry-leading subsurface imaging technology and expertise.
Over time the centre will also act as a base from which CGG intends to expand its business in the country, it added.
The new centre is equipped with state-of-the-art hardware and CGG’s seismic processing software to meet the subsurface imaging requirements of CGG’s clients operating in Myanmar, the firm said.
A fast dedicated network link to CGG’s Singapore hub is also available for processing large data volumes, it added.
The team of local Myanmar geophysicists running the centre is expected to expand with the anticipated growth in the Myanmar oil and gas exploration sector, CGG said, adding that it is committed to training and developing local data processing talents in Myanmar.
CGG, established in 1931 in Paris, had a 2010 revenue of €2.186 billion and has about 9,800 employees worldwide.
Source: Myanmar BUSINESS TODAY