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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  CGG    CGG   FR0013181864

CGG

(CGG)
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Delayed Quote. Delayed Euronext Paris - 04/18 11:35:17 am
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CGG : and TGS Announce Greater Castberg Survey in Barents Sea

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02/11/2019 | 01:50am EDT

CGG and TGS Announce Greater Castberg Survey in Barents Sea

Paris, France – February 11, 2019

CGG and TGS announce the Greater Castberg TopSeis™ survey in the Barents Sea. The survey is 5,000 sq km, and will be acquired and processed with the latest developments of CGG’s TopSeis acquisition and imaging technology.

The survey will include the highly prospective Castberg area, and cover existing and newly awarded licenses in addition to open acreage with several play models in multiple geological layers. The acquisition is expected to commence late Q2 2019 with final delivery to clients in Q4 2020.

The project is supported by industry funding.

Kristian Johansen, CEO, TGS, said: “Greater Castberg will expand the great TGS data coverage in the Barents Sea. The survey sits in the right place of the Barents Sea, and production licenses will start producing from this area in 2022. The area calls for high-technology solutions, and a tailor-made solution for this area is created in close collaboration with the clients and within the JV.”

Sophie Zurquiyah, CEO, CGG, said: “Our unique TopSeis solution combines an innovative source-over-spread acquisition geometry with CGG’s advanced imaging technology. This unique solution enables our clients to delineate shallow-to-intermediate depth targets in the Barents Sea, which are not resolved by conventional methods. The new survey will add to CGG’s library of modern broadband multi-client data in the Barents Sea, an excellent resource for optimizing the discovery and development of hydrocarbons.”



About CGG

CGG (www.cgg.com) is a fully integrated Geoscience company providing leading geological, geophysical and reservoir capabilities to its broad base of customers primarily from the global oil and gas industry. Through its three complementary businesses of Equipment, Acquisition and Geology, Geophysics & Reservoir (GGR), CGG brings value across all aspects of natural resource exploration and exploitation. CGG employs around 5,200 people around the world, all with a Passion for Geoscience and working together to deliver the best solutions to its customers. CGG is listed on the Euronext Paris SA (ISIN: 0013181864).



Contacts

Group Communications & Investor Relations
Christophe Barnini
Tel: + 33 1 64 47 38 11
E-Mail: : invrelparis@cgg.com

 
Investor Relations
Matthieu Lugez
Tel: +33 1 64 47 35 46
E-mail: : invrelparis@cgg.com

 


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Financials ($)
Sales 2019 1 378 M
EBIT 2019 116 M
Net income 2019 -85,2 M
Debt 2019 826 M
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020 37,06
EV / Sales 2019 1,57x
EV / Sales 2020 1,45x
Capitalization 1 339 M
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 2,82 $
Spread / Average Target 50%
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Managers
NameTitle
Sophie Zurquiyah-Rousset Chief Executive Officer & Director
Philippe Salle Chairman
Pascal Rouiller Group Chief Operating Officer & SEVP-Equipment
Yuri Baidoukov Group Chief Financial Officer & Treasurer
Don Pham Head-Research & Technology
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