Savannah Energy has paid down $40 million of debt as of the end of March as a result of its Nigerian gas supply business.
Losses from an arbitration case in Singapore and impairments from a seismic data business saw Dutch marine firm Fugro sink to a heavy set of losses last year.
Data shot by CGG in a 15,400 square km seismic survey offshore Mozambique, in the Zambezi Delta, is now ready for licensing.
Cameroon’s state-owned Société Nationale des Hydrocarbures du Cameroun (SNH) has launched a tender for a feasibility study for a 3D seismic shoot, onshore in the Douala/Kribi-Campo Basin.
French geoscience firm CGG has announced its largest ever seafloor survey is due to take place in the UK's central North Sea.
Scientists from Edinburgh University have received funding for a £1.4 million research project to investigate the storage of hydrogen in the subsurface.
French seismic survey firm OCG has begun a multi-client study of a large underexplored region west of Shetland.
French company CGG has renewed its contract with PTT Exploration and Public Production (PTTEP) Company for the dedicated processing centre (DPC) it has operated in the country since November 2013.
French geophysical services company CGG has started bankruptcy proceedings in France and the US.
French geoscience firm CGG said today it had inked a contract to process seismic data for Shell in Brunei for six years.
French geophysical firm CGG has terminated a contract for Eidesvik's Viking Vision seismic vessel early.
French geophysics firm CGG is getting ready to introduce its new approach to subsea mapping after two years of development work.
Seismic company CGG said it plans to launch a $379million capital increase in a bid to finance its transformation plan following the decline in oil price. The French firm plans to make the move, which would help support an on-going reorganisation process.
Technip SA (TEC), Europe’s biggest oil-services company, said it plans to expand in upstream businesses even after a bid to buy French seismic surveyor CGG SA (CGG) failed on price and industrial considerations. “We have turned a page on this subject,” Technip Chief Executive Officer Thierry Pilenko said. The company said in a statement on Sunday evening that it doesn’t intend to make an offer for CGG. CGG slumped 33% at 9:37 a.m. in Paris trading, while Technip climbed 8%.
Struggling seismic surveyor CGG has knocked back a £1.2billion takeover bid from French energy services giant Technip amid a nosedive in oil prices that has sparked a sector-wide consolidation drive. Technip, which has about 1,400 staff at its Aberdeenshire headquarters in Westhill, made the approach earlier this month. Commenting yesterday on its decision to rebuff the offer, CGG said that "the conditions to pursue were not met."
Technip has approached seismic contractor CGG about a potential merger. The French services company confirmed it wanted to enter into a "contstructive dialogue" with CGG regarding the integration and development of its reservoir, data processing and seismic activities with Technip. However, a short statement released by CGG appears to dismiss the offer.