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CGGVeritas to acquire seismic surveys offshore Australia

12 January 2012

CGGVeritas has secured a contract from MEO Australia for the acquisition of three marine seismic surveys, offshore Northern Australia.

The contract includes the 170 line km offset 2D exploration permit AC/P53 and two separate 3D surveys totalling 1,108km2 across exploration permits AC/P50 and AC/P51. It also covers exploration permit WA-454-P, which covers 601km2. MEO holds a 100% participating interest in all four exploration permits.

The Veritas Viking II seismic vessel will begin work next week to carry out all the surveys, which will take 55 days to complete. CGGVeritas will start with the Zeppelin 2D survey in the AC/P53 exploration permit in the Ashmore Cartier region of the Timor Sea in the Vulcan sub-basin.

The survey includes a tie line to the 507km2 Zeppelin 3D survey, which will be carried out over part of AC/P50 and AC/P51. This will take place immediately following the completion of the 2D survey.

After the acquisition of the Zeppelin surveys, the 601km2 Floyd 3D survey will be acquired in permit WA-454-P, which covers the Marina gas and liquids discovery, along with the Breakwater prospect and two nearby leads. The Floyd 3D survey will allow more accurate mapping and resource estimation of the Marina gas and liquids discovery, and will enhance the ability to select a drilling location on the Breakwater prospect.

These seismic surveys closely follow the recently completed 766km2 Bathurst 3D survey over the Blackwood East area in NT/P68 and the 708km2 Ibu Horst 3D survey, offshore North Sumatra.