CGG has announced that it is completing its exit from the seabed data acquisition business and has terminated the Seabed Geosolutions’ joint venture agreement effective December 31, 2019.
In line with its strategy to exit the data acquisition business, CGG has agreed to transfer its 40% shareholding in Seabed Geosolutions to Fugro before the end of the first quarter of 2020 and to conclude before year-end 2019 the remaining matters related to Seabed Geosolutions’ financing and non-competition provisions by paying $35 million to Fugro.
Including this payment, CGG anticipates in 2019 significant positive net cash flow above its expectations.
Ocean Power Technologies Announces Award
Ocean Sonic’s Launches icTalk Smart Pro
CGG Appoints Arnaud Surpas as Executive
Arctic Circle Assembly to Advance Busine
Aquamarine Power Gathers Real-Time Wave
CSA Ocean Sciences Inc. Launches GeoSpat
World Ocean Council Organizing Ocean Bus
BP Makes Gulf of Mexico Environmental Da
WOC Cross-Sectoral, Circumpolar Arctic B
CGG and Spectrum Announce Large Multi-Cl
Novacavi Cat 6 Data Cable Tested and App
100% Data Return as Metocean Services Co
Statoil: United Industry Behind Joint Se
Offshore Dispersant Data and Decisions
AMSI Business Person of the Year 2014 Aw
WOC to Convene Business Forum on Ocean P
BOEM Publishes Environmental Analysis of
March: PUSHING LIMITS: Innovative Soluti
March: Deepwater Power Point provides a
Private Sector Participation in Stakehol