Can you tell us about CGG’s history on the African continent?
CGG has a very long history in Africa, dating back as far as 1932 when we acquired our first geophysical survey in Gabon. Without going into all the details of the different technological breakthroughs CGG has developed and pioneered in Africa (including Airborne GravMag in Niger in the 1960’s; BroadSeis™ in Gabon in 2010’s) CGG has always considered Africa to be a high-priority region where we can apply the benefits of our full range of products and services. CGG has always maintained privileged relationships with governments and NOCs on the African continent. Even during the recent industry downturn, CGG has kept a strong footprint in Africa with active subsurface imaging centers in Egypt, Tunisia and Angola while continuing to invest in high-profile multi-client programs offshore Africa.
Where do you see the opportunities for growth within the industry in the next 5 years and how is CGG positioned to support these opportunities?
In the short term, I would definitely say the MSGBC Basin, and in the longer term I see growth opportunities in EOR for mature fields and in the ultradeep offshore if the technology and oil prices allow it.
What do you see as the key challenges facing the industry in the region over the coming 5-10 years and how is CGG positioned to overcome these challenges?
It is important for governments in Africa to maintain stable and attractive Oil Policies that will foster exploration and international investment. CGG is very active in helping local governments and oil agencies to promote the oil potential of their respective countries through our multi-client programs. Our priority is also to maintain a high level of in-country local expertise, primarily through a focus on data management and Petroleum Exploration Promotion using legacy data.
What has been CGG’s biggest success/ breakthrough in the past 12 months?
CGG has taken the lead in Mozambique starting with an ambitious multi-client 3D seismic program in the Zambesi Basin. While Mozambique has made the headlines in recent years with its large gas discoveries in the Rovuma Basin in the north, we shouldn’t forget that exploration in that region began almost 10 years ago and the FID on the main discovery by ENI for the Coral discovery was made in 2017. We like to think that the project CGG launched with its INP partners in 2017 will lead to similar discoveries in a few years’ time.
What game-changing discovery/ project/ technology is currently making waves?
Petronas and Repsol have recently announced discoveries in the deep water South Gabon *Basin. These discoveries have been made on CGG’s BroadSeis data acquired as part of our Jump Start™ project launched in 2014. These are significant technical successes for CGG’s technology. Significant opportunities still remain in the basin with five open blocks and several blocks yet to be drilled. CGG has invested significant resources in acquiring data over these blocks. With the recent discoveries by Petronas and Repsol, combined with a more favourable economic environment, we are confident that this basin will attract the investment required to develop the full potential of this basin.
What question or industry issue are you looking forward to hearing being discussed at the Africa Assembly?
After several years of declining investment in exploration the tide seems at last to be turning. Industry has already gone through a process of reform and cost reduction although some African countries have been slower than others to adapt to the new scenario. A number of traditional oil producers in the region have seen a decline in production and reserves are not being replaced. The big question is: will the African continent be able to make the policy changes needed to attract the required investment particularly in deepwater and frontier exploration? What impact will Local Content policies have?
CGG (www.cgg.com) 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. Through its three complementary businesses of Equipment, Acquisition and Geology, Geophysics & Reservoir (GGR), CGG brings value across all aspects of natural resource exploration and exploitation. CGG employs around 5,300 people around the world, all with a Passion for Geoscience and working together to deliver the best solutions to its customers.