CGG Veritas to set up research centre in India

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Singapore, Jan 18 (UNI) Global geophysical services and equipment provider, CGG Veritas is planning to set up a research centre in India in view of its importance of being a major oil and gas market.

CGG Veritas chairman and chief executive Robert Brunck announced this at the opening of the company's Asia Pacific headquarters in Singapore yesterday.

He said CGG Veritas is already operating a data processing centre in Mumbai, while pointing out that the company was expanding in Asia in line with the increasing oil and gas activities.

Brunck said Veritas would also double its research&development spending in Asia to 30 million dollars over the next two years.

''We want to work as Indians in India, Chinese in China and Singaporeans in Singapore to grow the business,'' he said while stressing the importance of local research centres in main oil and gas exploration centres.

The 55 million dollar regional headquarters in Singapore will house 220 people, he said, projecting a staff growth of 10-15 per cent a year in line with the high level of demand from the Asian oil and gas exploration sectors.

UNI XC BJR AS1217

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