CGG SA completed the last step of the company’s strategy to exit the seismic data acquisition business on Feb. 18, marking “end of an era” for the Paris-based global geoscience technology provider.
CGG finalized the exit following the conclusion of its last seismic acquisition contract in Tunisia, successfully winding down its land seismic data acquisition business. The announcement follows recent exits from seabed and marine data acquisition, in line with CGG’s 2021 strategy to exit the seismic data acquisition business
“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,” CGG CEO Sophie Zurquiyah said in a statement.
Zurquiyah added the exit “is a key milestone in our CGG 2021 strategic vision to transition to an asset-light people, data and technology company,” while also noting the company now has a “strong platform for organic growth.”
CGG is a fully integrated geoscience company providing geological, geophysical and reservoir capabilities to customers primarily from the global oil and gas industry. The company focuses on three complementary businesses of equipment, acquisition and geology, geophysics and reservoir.
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