" We are excited to welcome GeoSoftware and its employees, for the long term, into our portfolio. “ Being a perpetual owner of businesses, Topicus and Vela look forward to maintaining the standard of excellence that CGG has instilled in the Company’s solutions," said Gabor Czegledy, CEO of Vela’s Energy Portfolio and Han Knooren, Group CEO of the TSS operating group within Topicus. The closing of this transaction remains subject to mutually agreed closing conditions.
(“Topicus”) (TSXV: TOI) announced today that CGG has entered into an agreement with Topicus and Vela Software (“Vela”), for the sale of CGG’s GeoSoftware business (“GeoSoftware” or the “Company”). Through its three complementary business divisions of Equipment, Acquisition and Geology, Geophysics & Reservoir (GGR), CGG brings value across all aspects of natural resource exploration and exploitation.ĬGG employs 8,500 people around the world, all with a Passion for Geoscience and working together to deliver the best solutions to its customers.CGG S.A. They provide a comprehensive set of tools and support for multi-disciplinary teamwork including seismic reservoir characterization, petrophysics, rock physics modeling, structural & seismic interpretation, velocity modeling, time-to-depth conversion, and reservoir modeling.ĬGG ( 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.
These provide geophysicists with highly cost-effective tools to support them in their drive for successful prediction of drilling results.”ĬGG GeoSoftware is a full-service provider of advanced geoscience software including the globally respected Hampson-Russell, Jason, and Insight Earth ® brands within CGG’s Geology, Geophysics & Reservoir division. Kamal Al-Yahya, Senior Vice President, GeoSoftware, said: “HRS 10.0 represents the next advance as we continue to increase the range of sophisticated geoscience technologies we deliver within an interactive and intuitive software environment. New functionality for existing applications is automatically provided to clients on maintenance. For ease of project start-up, HRS 10.0 expands the range of connections to industry-standard interpretation and data storage systems. ProAZ for azimuthal AVO now provides synthetic azimuthal modeling from well logs. The new release also includes updates and enhancements to existing applications such as depth-log to depth-seismic correlation which addresses the increasing need of geoscientists to work with depth volumes. GeoSI stochastic inversion can provide seismic resolution close to well log resolution. GeoSI can also deliver high-resolution lithology or other rock property volumes.
GeoSI introduces pre- and post-stack stochastic inversion to generate an unlimited number of detailed realizations, allowing uncertainty analysis. RockSI is an interactive tool for exploring the link between rock properties and seismic data through petro-elastic models. HRS 10.0 unveils two completely new products. With these features, users can expand depth-based processes, analyze anisotropy to map fractures, connect rock properties and seismic properties, and increase the resolution of the results through stochastic seismic inversion. The enhanced capabilities of HRS 10.0 reflect a commitment to continually improve reservoir characterization technologies for geoscientists.