CGG is making a major strategic shift by entering an asset-light model by reducing CGG’s exposure to the data acquisition business.
CGG has made the decision to transform intoan asset-light model by reducing CGG’s exposure to the data acquisition business, which has been impacted over the years by structural industry overcapacity, lack of differentiation, commodity pricing and a heavy fixed cost base.
CGG therefore plans to carry out the following strategic changes in compliance with all legal requirements.
- – Adjust to a 3-vessel fleet in 2019.
- – Find a strategic partnership to cost efficiently operate and control the vessels.
- Land: exit the market after a wind-down period.
- Multi-Physics: market for sale, and monetize when suitable.