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CGG

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CGG Confirms 2022 Phase Three of Northern Viking Graben Dual-Azimuth Multi-Client Survey

01/11/2022 | 01:30am EDT

CGG announced phase three of its dual-azimuth multi-client 3D survey in the Northern North Sea. Starting in early May 2022 and continuing throughout the North Sea season, phase three will expand on phases one and two of the program conducted in 2020 and 2021. Initial data from the phase three acquisition are expected to be available in early 2023, and final processed data in early 2024. The multi-year survey adds a second azimuth over CGG’s existing Northern Viking Graben (NVG) multi-client 3D survey and extends coverage into the UKCS. The survey is supported by industry pre-funding. The 2022 phase three acquisition will add approximately 9,000 sq km of new data in an East-West direction. Similar to the phase one and phase two acquisitions, multi-component technology will be used for the acquisition, and this new data will be processed together with the existing North-South data, using CGG’s latest velocity modeling and imaging technology, to produce a dual-azimuth volume. The additional azimuth has enabled CGG’s advanced proprietary imaging to address and improve the images of the multi-directional fault patterns prevalent in the region. The resulting improved resolution will help resolve complex and marginal reservoir stratigraphy.


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ChangeLast1st jan.
CGG 1.29% 0.9436 Real-time Quote.48.27%
ON SEMICONDUCTOR CORPORATION -1.83% 55.15 Delayed Quote.-18.80%
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Financials (USD)
Sales 2021 926 M - -
Net income 2021 -143 M - -
Net Debt 2021 887 M - -
P/E ratio 2021 -4,90x
Yield 2021 -
Capitalization 699 M 699 M -
EV / Sales 2021 1,71x
EV / Sales 2022 1,57x
Nbr of Employees 3 300
Free-Float 99,9%
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Number of Analysts 8
Last Close Price 0,98 $
Average target price 1,20 $
Spread / Average Target 22,5%
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Sophie Zurquiyah-Rousset Chief Executive Officer & Director
Yuri Baidoukov Group Chief Financial Officer & Treasurer
Philippe Salle Chairman
Chu Ong Ting Chief Technology Officer
Michael C. Daly Independent Director
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