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CGG (company)

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Compagnie Générale de Géophysique S.A.
Company typeSociété Anonyme
ISINFR0013181864 Edit this on Wikidata
IndustryOil services
Founded1931
HeadquartersTour Montparnasse, Paris, France
Area served
Global
Key people
Remi Dorval (Chairman), Jean-Georges Malcor (CEO)
ProductsGeophysical services
Revenue$2,101 billion (2015)[1]
$19 million (2015)[1]
Decrease ($269 million) (2015)[1]
Total assets$5,513 billion (end 2015)[1]
Total equity$1,312 billion (end 2015)[1]
Number of employees
7,000 (end 2015)[2]
Websitewww.cgg.com

CGG (originally an acronym for Compagnie Générale de Géophysique) is a French-based geophysical services company founded in 1931.

CGG is a fully integrated[citation needed] Geoscience company providing leading[citation needed] geological, geophysical and reservoir capabilities to its broad base of customers[citation needed] primarily from the global oil and gas industry. Through its three complementary businesses of Equipment, Acquisition and Geology, Geophysics & Reservoir (GGR), CGG brings value[citation needed] across all aspects of natural resource exploration and exploitation.

History

CGG

In 1926, Conrad Schlumberger, and his brother Marcel Schlumberger, formed Société de Prospection Electrique (SPE) which specialized in oil and coal exploration as well as civil engineering.

In March 1931, SPE and Société Géophysique de Recherches Minières (SGRM), both specialists in seismology and magnetometry, merged into La Compagnie Générale de Géophysique. SGRM provided 5,000,000 francs of capital and CGG capital of 120,000 francs. In his premises at 30 rue Fabert, in Paris, Conrad Schlumberger decided to transfer the subsurface business to CGG while SPE retained the logging. At the same time, Raymond Maillet from SGRM was appointed President of CGG.

The first two years of business for CGG were shaky. Near-surface surveys (hydrology, mining and civil engineering) and oil exploration were not enough to break even in a period when oil was worth 10 cents a barrel. In 1966, CGG opened its first seismic data processing center in Massy, France.

Veritas DGC

Veritas Energy Services, a geophysical services company, was established in 1974 in Calgary, Canada with the purchase of Rafael B. Cruz and Associates Ltd. by David B. Robson.

Meanwhile, Digital Consultants Inc. had been established in Houston, Texas in 1965 with a vision to apply digital computing to the geophysical industry. In 1969, Digital Consultants reincorporated as Digicon Inc. (DGC), becoming a public company on the American Stock Exchange.

In 1996, Veritas DGC was formed from the merger of Veritas and Digicon.

Organization

Equipment

CGG’s Equipment business, Sercel, offers a full spectrum of systems, sensors and sources for seismic acquisition and downhole monitoring.[citation needed] Oilfield service companies and geophysical contractors use our[who?] equipment in the world’s most challenging environments, onshore, offshore, downhole and on the seabed.[citation needed]

Acquisition

CGG has the full range of data acquisition capabilities to conduct all types of geophysical surveys, large or small, onshore, offshore and in the air.[citation needed] We[who?] are unique[citation needed] in being able to provide seamless coverage with a wide portfolio of seismic and geophysical methods in any environment.[citation needed]

Geology, Geophysics & Reservoir (GGR)

CGG offers innovative thinking[citation needed], region-specific expertise[citation needed] and game-changing technology[citation needed] to deliver high-impact integrated solutions across the E&P chain.[citation needed]

As a recognized pioneer in geophysics for over 80 years[citation needed], CGG remains at the forefront of advanced subsurface imaging[citation needed], to help clients overcome their increasingly complex challenges.[citation needed] CGG offers a full spectrum of consulting and software solutions for geology, geophysics and reservoir applications.[citation needed]

CGG also offers high-end seismic, gravity, magnetic, well, geologic and satellite multi-client data and studies in the world's most prospective regions.[citation needed]

The efficient and integrated management of geological, geophysical and reservoir data is key to successful and prompt decision-making.[citation needed] CGG brings together the full breadth of skill development programs to provide the E&P industry with comprehensive geoscience learning path programs.[citation needed] .

See also

Notes

  1. ^ a b c d e "Annual Report 2015" (PDF). CGG. Retrieved 5 Feb 2016.
  2. ^ "End of 2015 Financial-Update" (PDF). CGG. Retrieved 5 Feb 2016.
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