CGGVeritas (CGV) said that ARGAS, its Saudi Arabian joint venture, was awarded 2 major Ocean Bottom Cable or OBC 3D data acquisition contracts by Saudi Aramco. The company stated that the 2 contracts have a combined value of around $375 million.
The first project is scheduled to start in June 2010 and operate for a period of 18 months while the second is scheduled to run from October 2010 for a period of 24 months; and each contract respectively has an 18- and 24-month optional extension period.
ARGAS would mobilize 2 fully independent OBC crews equipped with the latest Sercel SeaRay 4C equipment and recording systems, CGGVeritas added.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.