CGG: completes exit from land data acquisition
(CercleFinance.com) - Following on from the company's recently announced exits from seabed and marine data acquisition, CGG has announced that it has completed the wind-down and exit from its land seismic data acquisition business after the end of its last land seismic acquisition contract in Tunisia.
This announcement confirms the successful implementation of CGG's strategy to leave the seismic data acquisition sector. To date, it still holds a minority stake in the company Argas, which operates in the Middle East.
Sophie Zurquiyah, CEO of CGG, said, "This is a key milestone in our CGG 2021 strategic vision to transition to an asset-light people, data and technology company. It secures the future sustainability of our business and provides a strong platform for organic growth."
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