Viridien Awarded a Three-Year Contract by Petroleum Development Oman for Dedicated Seismic Processing Services
Rhea-AI Summary
Viridien has secured a three-year contract from Petroleum Development Oman (PDO) to provide advanced land seismic imaging services at its dedicated processing center in Muscat, Oman. The contract extends an existing partnership between the companies.
The Muscat center, Viridien's largest dedicated processing center globally, will deploy proprietary algorithms to enhance PDO's seismic data quality. The project will address challenges including complex near-surface conditions and strong multiples through high-resolution velocity model building and elastic full-waveform inversion.
The scope includes managing increased data density, developing land 4D monitoring, and strengthening synergies between seismic imaging and reservoir characterization. Viridien's HPC & Cloud Solutions team will provide high-performance computing capacity to support advanced workflows. The company maintains its commitment to In-Country Value initiatives in Oman, focusing on talent development and education through university partnerships.
AI-generated analysis. Not financial advice.
Positive
- Secured new three-year contract with PDO
- Continuation of existing strategic partnership
- Project leverages company's largest dedicated processing center globally
Negative
- None.
Insights
The awarded three-year contract with Petroleum Development Oman represents a strategic win for Viridien, reinforcing their market leadership in advanced seismic imaging services. The continuation of this partnership is particularly significant as PDO is Oman's largest hydrocarbon producer, controlling over 90% of the country's crude oil reserves.
The contract's value extends beyond immediate revenue generation through several key aspects:
- The deployment of elastic full-waveform inversion technology and high-resolution velocity modeling positions Viridien at the forefront of solving complex geological challenges, creating substantial barriers to entry for competitors
- The commitment to expanding High-Performance Computing capabilities suggests a scalable infrastructure investment that could support additional contract wins in the region
- The In-Country Value initiatives and university partnerships create a sustainable competitive advantage through local talent development and strengthened governmental relationships
From a market perspective, this contract renewal demonstrates Viridien's ability to retain high-value clients in a competitive environment where seismic data processing capabilities are increasingly critical for efficient hydrocarbon extraction. The focus on developing land 4D monitoring capabilities also indicates potential future revenue streams as the industry moves toward more sophisticated reservoir management techniques.
Paris, France – January 28, 2025
Viridien has been awarded a three-year contract by Petroleum Development Oman (PDO) to provide advanced land seismic imaging services at its dedicated processing center (DPC) in Muscat, Oman. This new contract continues a longstanding collaborative partnership between Viridien and PDO.
Viridien geophysical experts at the Muscat center, its largest DPC worldwide, will work to deploy the most advanced proprietary algorithms to bring step-changes in image quality to PDO’s ever-growing library of seismic data. Oman land data is characterized by complex near-surface conditions and strong multiples. High-resolution velocity model building, and elastic full-waveform inversion will be key to overcoming these challenges and to enhancing subsurface understanding. Viridien also will address new challenges, such as increased data density, developing land 4D monitoring and reinforcing synergies between seismic imaging and reservoir characterization. To support these capabilities, Viridien HPC & Cloud Solutions specialists will deliver the in-house High-Performance Computing (HPC) capacity required to implement the most advanced workflows.
Viridien remains committed to its significant In-Country Value initiatives within Oman that promote talent development, education, and outreach through close ties with local universities.
Sophie Zurquiyah, CEO, Viridien, said: "Congratulations to our Muscat DPC team whose technical excellence and outstanding service have led to this new contract award. We will build on this success, by continuing to advance our geoscience and HPC technologies to address PDO’s unique E&P challenges and support their business objectives.”
About Viridien:
Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resource, digital, energy transition and infrastructure challenges. Viridien employs around 3,500 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN: FR001400PVN6).
Contacts
Investor Relations
Jean-Baptiste Roussille
Tel: + 33 6 14 51 09 88
E-Mail: jean-baptiste.roussille@viridiengroup.com
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