Paris, France – February 18, 2020
CGG announced today that it has completed the wind-down and exit from its land seismic data acquisition business after completing its last land seismic acquisition contract in Tunisia. Following on from the company’s recently announced exits from seabed and marine data acquisition, this milestone marks the successful completion of CGG’s strategy to exit the seismic data acquisition business.
To date, CGG still retains a minority shareholding in the ARGAS company operating in the Middle East.
Sophie Zurquiyah, CEO of CGG, said: “The exit from our seismic data acquisition business, one of CGG’s long-standing historic areas of expertise, marks the end of an era, and also the start of an exciting new chapter in our history. This is a key milestone in our CGG 2021 strategic vision to transition to an asset-light people, data and technology company. It secures the future sustainability of our business and provides a strong platform for organic growth.”
CGG (www.cgg.com) is a global geoscience technology leader. Employing around 4,600 people worldwide, CGG provides a comprehensive range of data, products, services and equipment that supports the discovery and responsible management of the Earth’s natural resources. CGG is listed on the Euronext Paris SA (ISIN: 0013181864).
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