CGGVeritas
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| Société Anonyme | |
| Traded as | |
| Industry | Oil services |
| Founded | 1931 |
| Headquarters | Tour Montparnasse, Paris, France |
|
Area served
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Global |
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Key people
|
Remi Dorval (Chairman), Jean-Georges Malcor (CEO) |
| Products | Geophysical services |
| Revenue | $2.101 billion (2015) |
| $19 million (2015) | |
| Profit |
 ($269 million) (2015)
|
| Total assets | $5.513 billion (end 2015) |
| Total equity | $1.312 billion (end 2015) |
|
Number of employees
|
7,000 (end 2015) |
| Website | www.cgg.com |
CGG (originally an acronym for Compagnie Générale de Géophysique) is a French-based geophysical services company founded in 1931.
CGG is a fully integrated Geoscience company providing leading geological, geophysical and reservoir capabilities to its broad base of customers primarily from the global oil and gas industry. Through its three complementary businesses of Equipment, Acquisition and Geology, Geophysics & Reservoir (GGR), CGG brings value across all aspects of natural resource exploration and exploitation.
In 1926, Conrad Schlumberger, and his brother Marcel Schlumberger, formed Société de Prospection Electrique (SPE) which specialized in oil and coal exploration as well as civil engineering.
In March 1931, SPE and Société Géophysique de Recherches Minières (SGRM), both specialists in seismology and magnetometry, merged into La Compagnie Générale de Géophysique. SGRM provided 5,000,000 francs of capital and CGG capital of 120,000 francs. In his premises at 30 rue Fabert, in Paris, Conrad Schlumberger decided to transfer the subsurface business to CGG while SPE retained the logging. At the same time, Raymond Maillet from SGRM was appointed President of CGG.
The first two years of business for CGG were shaky. Near-surface surveys (hydrology, mining and civil engineering) and oil exploration were not enough to break even in a period when oil was worth 10 cents a barrel. In 1966, CGG opened its first seismic data processing center in Massy, France.
Veritas Energy Services, a geophysical services company, was established in 1974 in Calgary, Canada with the purchase of Rafael B. Cruz and Associates Ltd. by David B. Robson.
Meanwhile, Digital Consultants Inc. had been established in Houston, Texas in 1965 with a vision to apply digital computing to the geophysical industry. In 1969, Digital Consultants reincorporated as Digicon Inc. (DGC), becoming a public company on the .
In 1996, Veritas DGC was formed from the merger of Veritas and Digicon.
CGG’s Equipment business, Sercel, offers a full spectrum of systems, sensors and sources for seismic acquisition and downhole monitoring. Oilfield service companies and geophysical contractors use our equipment in the world’s most challenging environments, onshore, offshore, downhole and on the seabed.
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Wikipedia