Libya awards CGG all offshore geodata-acquisition rights

By OGJ editors

HOUSTON, Apr. 14 -- Libya's National Oil Co. on Apr. 7 granted Paris-based Compagnie Generale de Geophysique (CGG), in cooperation with North African Geophysical Co., exclusive rights to perform a speculative, multiclient geodata acquisition program over all acreage off Libya.

In the second quarter, CGG will begin gathering 2D seismic, gravimetric, and magnetic data in a 12-month program covering 38,000 line km. Subject to its success, CGG will investigate the potential for extensive 3D nonexclusive coverage.

CGG said little new geodata has been secured on Libya's offshore in 20 years. The new dataset will extend information on shelf areas and will examine deepwater basin prospectivity potential.