Type Société Anonyme Area served Global Revenue 2.101 billion USD (2015) Founded 1931 | Industry Oil services Products Geophysical services Headquarters Paris, France | |
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Traded as Euronext: CGG
NYSE: CGG Key people Remi Dorval (Chairman), Jean-Georges Malcor (CEO) Stock price CGGT (EPA) € 8.03 -0.88 (-9.88%)3 Mar, 5:36 PM GMT+1 - Disclaimer CEO Jean-Georges Malcor (30 Jun 2010–2019) | ||
CGG (originally an acronym for Compagnie Générale de Géophysique) is a French-based geophysical services company founded in 1931.
Contents
CGG 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
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.
Equipment
CGG’s Equipment business, Sercel, offers a full spectrum of systems, sensors and sources for seismic acquisition and downhole monitoring. Oilfield service companies and geophysical contractors use our equipment in the world’s most challenging environments, onshore, offshore, downhole and on the seabed.
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. We are unique in being able to provide seamless coverage with a wide portfolio of seismic and geophysical methods in any environment.
Geology, Geophysics & Reservoir (GGR)
CGG offers innovative thinking, region-specific expertise and game-changing technology to deliver high-impact integrated solutions across the E&P chain.
As a recognized pioneer in geophysics for over 80 years, CGG remains at the forefront of advanced subsurface imaging, to help clients overcome their increasingly complex challenges. CGG offers a full spectrum of consulting and software solutions for geology, geophysics and reservoir applications.
CGG also offers high-end seismic, gravity, magnetic, well, geologic and satellite multi-client data and studies in the world's most prospective regions.
The efficient and integrated management of geological, geophysical and reservoir data is key to successful and prompt decision-making. CGG brings together the full breadth of skill development programs to provide the E&P industry with comprehensive geoscience learning path programs. .