GlobeNewswire Inc | May 5, 2021 01:30AM EDT

May 05, 2021

Sercel Enter into Exclusive Negotiationswith LISS - Low Impact Seismic Sources

Paris, France May 05, 2021

CGG announced today that Sercel and Low Impact Seismic Sources (LISS) have entered into exclusive negotiations for the acquisition of LISS by Sercel. In collaboration with Shell, LISS has developed the TPS (Tuned Pulse Source), an innovative marine seismic source with much enhanced low-frequency output.

The LISS TPS solution meets the industry need for low frequencies that allow deeper penetrations and more accurate quantitative interpretation and Full Waveform Inversion (FWI) results, especially in combination with long-offset data, all while further reducing environmental impact.

Sercel will continue to develop and commercialize the TPS worldwide. Shell will continue to provide its support with in-sea testing to be conducted this summer and will execute a first commercial survey using the LISS TPS source later this year.

Steve Chelminski, co-founder of LISS and inventor of the first marine seismic impulsive source in the 1960s, said: Im very pleased that Sercel, the equipment supplier to the seismic industry, is acquiring LISS. Sercel will provide the benefits of TPS and its successor technologies, representing a new era of seismic source technology, to all contractors and oil companies in the industry. Its the low-frequency source that brings not just the data required for real imaging and FWI improvement, but in addition the environmental benefits that will continue to advance the industrys ability to be excellent custodians of our environment.

Gerard van Drempt, Shell Global Category Manager Geophysics , said: Shell is delighted to see that the solution that it has developed in collaboration with LISS will become market-ready for commercial acquisitions. We trust that the collaboration between Shell, LISS and Sercel will allow this innovative source to become the industrys preferred solution for low impact enhanced low-frequency seismic acquisition.

Emmanuelle Dubu, Sercel CEO, said: With its experienced people, intellectual property and game-changing marine source, LISS brings significant added value to Sercels marine seismic products and perfectly complements our current portfolio of market-leading high quality and sustainable exploration, reservoir development and monitoring solutions.

About CGG

CGG (www.cgg.com) is a global geoscience technology leader. Employing around 3,700 people worldwide, CGG provides a comprehensive range of data, products, services and solutions that support our clients to more efficiently and responsibly solve complex natural resource, environmental and infrastructure challenges. CGG is listed on the Euronext Paris SA (ISIN: 0013181864).

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Contacts

Group Communications & Investor RelationsChristophe BarniniTel: + 33 1 64 47 38 11 E-Mail: christophe.barnini@cgg.com

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