CGG exits seabed data acquisition business
Published by Nicholas Woodroof,
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 1Q20 and to conclude before year-end 2019 the remaining matters related to Seabed Geosolutions’ financing and non-competition provisions by paying US$35 million to Fugro.
Including this payment, CGG anticipates in 2019 significant positive net cash flow above its expectations.
Read the article online at: https://www.oilfieldtechnology.com/exploration/03012020/cgg-exits-seabed-data-acquisition-business/
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