Announcement of a ship management joint venture

CGGVeritas, geophysical company based at Paris, announced a new joint venture with the Norwegian ship-owner Eidesvik Offshore to manage ten high-capacity 3D vessels in the CGGVeritas fleet, including the two new X-BOW vessels, "Oceanic Vega" and "Oceanic Sirius".

The joint venture, CGGVeritas Eidesvik Ship Management AS, will be based in Bergen and is 51% owned by Eidesvik and 49% owned by CGGVeritas. The joint venture marks a step-change in the way CGGVeritas operates its high-end seismic vessels. It creates an integrated team of highly skilled professionals dedicated to ship management to fully support and develop the performance of the fleet. CGGVeritas and Eidesvik are both contributing resources and support to the joint venture.