MENA’s largest seismic acquisition company, Saudi Arabia’s Arabian Geophysical and Surveying Company (ARGAS), is expanding its business internationally after a reliable track record which made it one of the best regional success stories in the oil and gas field services industry.
Industrialization and Energy Services Company (TAQA) and Paris-based CGG have today jointly acknowledged the signing of a new deal that will enable the company to expand its offering in integrated marine and land seismic solutions to Oil & Gas industry customers all over the world, helping ARGAS the ability to access potential multi-billion-dollar markets.
The deal dismisses all territorial, technical, commercial exclusive rights and any other limitations previously in place, as well as all other contractual constraints on CGG or any of its current or previous affiliates.
“The world around us is changing so fast that restrictions and exclusivities are obsolete by the time they are executed. We value our long partnership with CGG and together we understand the current market challenges. Our new agreement reflects a need for ARGAS to be more agile and to be able to react swiftly to market movements with the aim of better-addressing customers’ needs.”
Echoing ARGAS’s new global objectives, stockholders also granted to use this corporate milestone to unveil a new Argas logo which exhibits the company’s dynamism and agility.
TAQA is a leading provider of oilfield solutions in the Menat region, producing quality products and equipment across the entire upstream value chain. TAQA is a Saudi joint-stock company held collectively by Saudi publicly listed joint-stock companies and several private and industrial investors symbolizing a cross-section of the Saudi Industrial community.
Meanwhile, CGG is a global geoscience technology leader. Operating with a workforce of 4,600 people worldwide, CGG produces a comprehensive range of data, products, services and equipment that encourages the discovery and responsible management of the Earth’s natural resources