On March 2, 2016, CGG received notice from the New York Stock Exchange, Inc.
CGG and PETRONAS Carigali Sdn Bhd (PETRONAS Carigali), a wholly-owned subsidiary of Petroliam Nasional Berhad (PETRONAS), have agreed on a collaboration to provide access to CGG’s latest technology and expertise in high-end seismic and multi-physics imaging, and reservoir characterization.
CGG (www.cgg.com) is a global geoscience technology leader. Employing around 3,700 people worldwide, CGG provides a comprehensive range of data, products, services and solutions that support our clients to more efficiently and responsibly solve complex natural resource, environmental and infrastructure challenges. CGG is listed on the Euronext Paris SA (ISIN: 0013181864).
The amendment of IAS 38 Intangible assets leads CGG to adapt its multi-client library amortization pattern as follows:
Each survey will be fully amortized over a 5 years period based on the following principles: