Paris, France – November 21, 2023
CGG today announces that it has entered into a definitive agreement with Industrialization and Energy Services Company (“TAQA”) to sell its entire 49% stake to Arabian Geophysical and Surveying Company (ARGAS). The deal is expected to close this year, subject to the necessary conditions being met.
Sophie Zurquiyah, CEO of CGG, said: “ The sale of our ARGAS stake marks the final step in CGG’s 2018 strategic plan to exit the data acquisition services business to become an active company focused on its differentiated and high-end technology operations. In the future, we will continue to provide the Kingdom of Saudi Arabia and TAQA with our top-of-the-line underground imaging technologies and seismic acquisition systems and thus contribute to the successful development of energy resources and low carbon content in the Middle East region.“.
CGG () is a global leader in high-performance computing (HPC) technologies and scientific computing, providing data, products, services and solutions in the fields of Earth science, data science, sensing and monitoring. Our unique portfolio helps our clients effectively and responsibly address the many and complex challenges of digital technology, energy transition, natural resources, environment and infrastructure and ensure a more sustainable future. CGG employs approximately 3,400 people worldwide and is listed on Euronext Paris SA (ISIN: 0013181864).
| Communications and Investor Relations Department
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