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CGG announced today that it has completed exit from marine acquisition business.

CGG anticipates Q4 2019 segment Group revenue at $393 million

CGG announced today that it is completing its exit from the seabed data acquisition business and has terminated the Seabed Geosolutions’ joint venture agreement effective December 31, 2019.

CGG has completed JumpStart™ multi-client geoscience packages for the North West Shelf (NWS) of Australia and the Banda Arc in the Asia-Pacific region. Both packages are now available and enhance understanding of the prospectivity of these two high-potential regions, allowing the assessment of exciting new plays.

CGG announced today a program to deliver the largest OBN multi-client survey ever conducted in the UK Central North Sea (CNS). Planned to start in early 2020, the survey has already received significant industry interest and is being prefunded in part by BP. First results are targeted for Q1 2021.

CGG has established a Regional Geoscience Center in Abu Dhabi to deliver geophysical, geological and reservoir technology and support to clients across the Middle East.

Strong operational performance & cash flow generation drive leverage ratio below 1x

CGG Subsurface Imaging, part of CGG’s Geoscience division, has delivered state-of-the-art broadband 4D seismic results ahead of schedule from BP Angola’s latest monitor survey offshore Angola. This achievement builds on previous 4D seismic processing projects undertaken for BP Angola.

CGG announced today that its Geoscience division has completed, five months early, the multi-year integrated geoscience study awarded by Kuwait Gulf Oil Company (KGOC) in early 2017. The study’s main objective was to identify resource growth potential in the mature, onshore Partitioned Zone (PZ).