CGG To Implement New Strategic Phase - Quick Facts

(RTTNews) - French geoscience company CGG SA (CGG), in its Capital Market Day hosted today in Paris for investors and analysts, presented the latest phase in its strategic roadmap which would be fully implemented by the end of 2016.

CGG, formerly Compagnie Generale de Geophysique-Veritas, said its activities are closely correlated with the long-term exploration and production trends of our Oil and Gas company clients. The CGG Group is now firmly established on the three solid technological pillars represented by its Equipment, Acquisition and GGR (Geology, Geophysics & Reservoir) units.

The company is said to benefit from its unique scope of Geoscience activities, the unrivalled expertise of its imaging teams, its modern worldwide fleet of recently built, high-capacity vessels, the cutting-edge leadership of SERCEL on the Equipment market, and its strong commercial positions in key multi-client areas. Therefore, CGG is ideally positioned to capitalize on its unique integrated portfolio and to deliver its customers' needs for innovative products and services and for global solutions, as achieved recently with BroadSeis and StagSeis and now with SERCEL's 508XT land acquisition system.

Looking at 2014, and at a time when uncertainty still prevails for next year, the company has recently won three large multi-client projects offshore Brazil, further to the recently awarded projects in Mexico and Angola.

Looking forward to 2016, the roadmap for its Marine Acquisition business is to continue the repositioning and reformatting of its fleet on its core high-end vessels, including the four modern C-class vessels recently acquired, and on the high-technology market segments. This size reduction of its operated fleet would result in a significant fall in fixed costs, in investments and thus lower the volatility of Marine earnings and improve cash generation throughout the cycle.