We provide a unique range of technologies, services and equipment designed to deliver geoscience solutions right across the Exploration & Production life cycle.
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Operating safely and with integrity in order to deliver sustainable performance.
CGG recognizes the 10 UNGC principles and publishes annually its communication on progress.
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Our range of geoscience experience is unparalleled and leads us to invent and perfect technology and techniques unlike any other.
GeoTraining brings together the full breadth of CGG’s skill development programs to provide the E&P industry with comprehensive geoscience workforce learning path programs.
Expert, independent advice on the most appropriate satellite imagery (optical, radar) and elevation data products.
The benchmark for petrophysics, rock physics, facies analysis and statistical mineralogy. Collaborative multi-well log analysis made easy for better drilling decisions.
In 2015, the CGG Group reported a high net loss, highlighting the difficulty of our market and the non-recurring charges we incurred as a result of our strategic repositioning. Nevertheless, free cash flow generation improved significantly compared to 2014, underlining our consistent efforts to save cash throughout the year. From the end of 2013, we launched a far-reaching cost-savings plan that we accelerated in 2015. Over a two-year period, we have reduced marine data acquisition costs by 64% and cut overheads by 54%. We have reduced our headcount, which stood at 11,000 at the end of 2013, by 34% by year end 2015.
Its aim is to rebalance our portfolio of activities and to improve our ability to generate cash and make us less sensitive to the cyclical nature of our industry by reducing our exposure to capital-intensive activities. The share of contractual seismic data acquisition activities in our overall revenue will therefore fall to less than 15%. We are now only operating five vessels in our fleet compared to 18 at the end of 2013 and the fleet will focus its operations on our multi-client activities. The activities of our Geology, Geophysics & Reservoir (GGR) segment will, by contrast, represent over 60% of total revenue.
In addition to our multi-client activity based on our library of seismic images that we own and license to clients, we are also active in subsurface imaging and reservoir characterization. For this, GGR employs more than 3,000 engineers who produce and interpret seismic images, develop software and specialized applications and provide a significant geoscience consultancy activity.
Our aim is to build a rebalanced geoscience group that is firmly anchored in its unique and high-tech positions in Equipment, Imaging-Reservoir and high-end Data Acquisition. Here I would like to pay tribute to the way in which our employees have mobilized in the face of the current much deteriorated market conditions to better serve our clients and overcome their new challenges.
Chief Executive Officer
In all environments, we acquire, process and interpret surveys that provide our clients with a comprehensive understanding of subsurface targets and their geological settings.
Contacts for further information regarding investors.
CGG's 2015 Annual Report
Q3 2016 Results
September 2016 Roadshow
Q2 2016 Results