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.
Welcome to the first issue of ON&T for 2025, the fifth installment in our annual special…
Send us your latest corporate news, blogs or press releases.
Please see our Privacy Policy for any questions relating to image use.
Ocean News & Technology
8502 SW Kansas Ave
Stuart, FL 34997
[email protected]
