Newsroom

CGG announced today that it has an agreement with Société Nationale des Hydrocarbures (SNH), the National Oil and Gas Company of Cameroon, to promote enhanced multi-client E&P data packages and interpretative products, in support of Cameroon’s 2018 Onshore & Offshore Licensing Round opened and conducted by SNH for eight free blocks on offer, located in sedimentary basins offshore and onshore Cameroon.

CGG (the “Company”) announces today the terms of its share capital increase with preferential subscription rights (the “Rights”) for an amount of approximately €112.2 million (including share premium) (the “Rights Issue”), by way of an issuance of shares of the Company (the “New Shares”) each with one warrant attached (the “Warrants #2” and together with the New Shares, the “ABSAs”).

CGG has repositioned its Data Management Services business as Smart Data Solutions after extending its E&P data optimization portfolio to deliver global digitalization solutions.

Full-Year 2017 CGG Group Revenue was up 10% year-on-year, standing at $1,320 million compared to $1,196 million in 2016.

CGG announces that by an order issued today in CGG’s Chapter 15 Case, the US Bankruptcy Court recognized the ruling of the Commercial Court of Paris dated December 1st, 2017 approving its safeguard plan.

CGG Multi-Physics has announced completion of the acquisition, processing and interpretation of a multi-client airborne gravity and magnetic survey of approximately 38,000 line km over the Perdido Fold Belt.

With the favorable decision of the Paris Commercial court approving the safeguard plan further to the approval of the resolutions necessary to implement the plan by the extraordinary general meeting and the confirmation judgement for the Chapter 11 in the United States.

CGG announces that today the Commercial Court of Paris approved the safeguard plan of CGG, after finding the claims filed by certain holders of CGG’s convertible bonds against this draft plan inadmissible.

The decision by the Commercial Court of Paris on the approval of the draft safeguard plan and on the claim filed against it by certain holders of convertible bonds is expected in the afternoon of December 1, 2017.