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CGG: completes exit from marine acquisition

(CercleFinance.com) - Geoscience group CGG announces the definitive exit from its marine seismic data acquisition activity, with the finalisation of the strategic partnership in this activity with Shearwater GeoServices Holding.


It concerns Shearwater's purchase of five high-end streamer vessels, that are jointly owned by CGG Marine Resources Norge and Eidesvik Offshore, the purchase of CGG streamer equipment and CGG's secure access to vessel capacity for its future multi-client projects.

The creation of a joint venture under the Sercel brand, for the manufacturing, marketing and technical support in streamer equipment for marine seismic acquisition, is expected to be finalised in the first half of 2020.


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