CGG exits seabed data acquisition business
Published by Nicholas Woodroof,
Editor
Oilfield Technology,
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/offshore-and-subsea/03012020/cgg-exits-seabed-data-acquisition-business/
You might also like
MDL awarded contract by Saipem to support flex-lay campaigns in West Africa
Maritime Developments (MDL) has been awarded a contract by Saipem to provide specialist equipment and operational support for two recent flex-lay campaigns offshore Ivory Coast, Senegal and Mauritania.