PARIS, France – November 5, 2020 – CGG (ISIN: FR0013181864), a world leader in Geoscience, announced today its 2020 third quarter unaudited results.Commenting on these results, Sophie Zurquiyah, CGG CEO, said: “CGG markets stabilized in Q3 as large Independents and NOCs started to resume activity, mainly in their core areas. We are on track with the implementation of the cost reduction plan resulting in increased Adjusted EBITDAs. Our high-end technology significantly improves our client’s understanding of the subsurface and provides important insights to the prioritization of their energy investments. This, combined with our focus on mature basins and the technology vital for step-out exploration, development and production, provides CGG with a unique value proposition for our clients. We have been able to maintain market share in our core businesses throughout the year, and I have been pleased with our progress towards developing offerings in adjacent fields, including structural health monitoring, CCUS, geothermal and environmental geosciences."
*Adjusted indicators represent supplementary information adjusted for non-recurring charges triggered by economic downturn.
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