Viridien has unveiled a new seismic reprocessing project on block 22 located off the coast of Angola. This project spans an area of 4,300 km2 and aims to provide crucial information on the underexplored structures of the Atlantic area. Initial results are expected in the first quarter of 2026, with final products anticipated in the third or fourth quarter of the same year.
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For this project, Viridien will employ its latest imaging technologies, including time-lag FWI, Q-FWI, Q-Kirchhoff, as well as advanced degaussing and demultiple processes. These new data will complement the existing 2,900 km2 of data from the adjacent block 20/11, providing a total coverage of over 7,200 km2 for the evaluation of pre-salt and post-salt areas in the Kwanza Basin.
Strategic Collaboration
According to Dechun Lin, EVP at Viridien, the group is 'excited to continue its close collaboration with the Angolan national energy agency, ANPG.' This initiative is part of the support for the upcoming licensing cycle and strengthens Viridien's long-standing presence in Angola. The company, listed on Euronext Paris under the name VIRI (ISIN: FR001400PVN6), employs about 3,200 people worldwide.
SectorLogiciels · Ingénierie / Conseil›équipements et services pétroliers
Context
Period
Period: 3T 2025
Guidance from the release
Viridien a réalisé un excellent troisième trimestre, contribuant à une génération robuste de Cash-flow net.
Prix du pétrole volatils; néanmoins activités d'exploration et sismique jugées résilientes, carnet de commandes robuste et objectif de Cash-flow net 100 M$ pour 2025.
Risks mentioned
Volatilité des prix du pétrole pouvant entraîner reports d'investissements
Risque de recouvrement de créances (créances en retard auprès de PEMEX)
Effet défavorable du change (~3 M$ d'impact négatif sur SMO)
Opportunities identified
Forte demande pour les données haute qualité d'Earth Data (EDA) — croissance élevée des ventes après-vente
Réduction du coût de la dette via rachats obligataires améliorant la génération de cash future
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