Saudi Arabia-founded Arabian Geophysical and Surveying Company (ARGAS), the largest seismic acquisition company in the Middle East and North Africa (MENA) region, is to expand its business internationally, according to a press release.
This comes in line with an agreement signed by ARGAS’ shareholders, Industrialization and Energy Services Company (TAQA) and CGG, to allow ARGAS’ operations to turn global. The agreement waives all territorial, technical, commercial exclusivities and any other restrictions on the signatories, allowing ARGAS to expand its integrated marine and land seismic solutions to oil and gas companies operations globally. All other exclusivities and restrictions on CGG or any of its affiliates will also be waived as well.
Khalid Nouh, CEO of TAQA and Chairman of the board of ARGAS, said in a statement: “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, together we understand current market challenges and the need to be more agile to swiftly react to market movements and better address our customer’s needs.”
This new deal will lead to redesigning the ARGAS logo so as to represent their new global outlook.