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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  CGG    CGG   FR0013181864

CGG

(CGG)
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CGG: Sercel Awarded Seismic Equipment Contract for Saudi Mega-Crew

11/24/2020 | 01:31am EST

Sercel Awarded Seismic Equipment Contract for
Saudi Mega-Crew

Paris, FranceNovember 24, 2020

CGG announced today that Sercel has won a major contract to supply land seismic equipment for a 3D mega-crew survey recently awarded to ARGAS in Saudi Arabia. The equipment selected includes a Sercel 508XT seismic acquisition system of over 60,000 channels equipped with strings of SG-10 geophones and a fleet of over 30 Nomad 65 Neo all-terrain vibrator trucks with VE464 advanced vibrator electronics. ARGAS will acquire the long-term survey in a harsh desert environment from the end of Q1 2021 onwards.

This award marks the fifth 508XT system to be deployed on a mega-crew survey in the Middle East in the last five years, strengthening Sercel’s already well-established base in the region. With over 75 systems deployed worldwide, the 508XT is the industry’s most field-proven acquisition system for all types of challenging land surveys. When combined with Nomad 65 Neo vibrators and the VE464’s unique Smart LF function, it is the ideal choice for reaching the highest productivity levels while recording the best broadband seismic data.

Sophie Zurquiyah, CEO, CGG, said: “We are delighted that ARGAS has selected an extensive Sercel product portfolio to equip the mega-crew survey it was recently awarded in Saudi Arabia. As an experienced industrial manufacturer, Sercel is trusted by its customers for its reliability to deliver large volumes of high-performance seismic equipment and for accompanying them on their most challenging surveys with dedicated technical support.”

About CGG

CGG (www.cgg.com) is a global geoscience technology leader. Employing around 4,000 people worldwide, CGG provides a comprehensive range of data, products, services and equipment that supports the discovery and responsible management of the Earth’s natural resources. 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

 
 

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  • CGG - Press Release pdf version

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Source: CGG

2020 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2020 931 M - -
Net income 2020 -340 M - -
Net Debt 2020 977 M - -
P/E ratio 2020 -2,23x
Yield 2020 -
Capitalization 756 M 756 M -
EV / Sales 2020 1,86x
EV / Sales 2021 1,71x
Nbr of Employees 4 564
Free-Float 95,7%
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 1,36 $
Last Close Price 1,06 $
Spread / Highest target 129%
Spread / Average Target 28,1%
Spread / Lowest Target -33,0%
EPS Revisions
Managers and Directors
NameTitle
Sophie Zurquiyah-Rousset Chief Executive Officer & Director
Philippe Salle Chairman
Yuri Baidoukov Group Chief Financial Officer & Treasurer
Don Pham Head-Research & Technology
Chu Ong Ting Chief Technology Officer
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