CGG (company)

Last updated
CGG S.A.
Type Société Anonyme
ISIN FR0013181864
Industry Geoscience
Founded1931
Headquarters Massy, France
Area served
Global
Key people
Sophie Zurquiyah (CEO)
Services Geoscience
Number of employees
3,890 FY2020
Subsidiaries Compagnie Générale de Géophysique (Norway)
Wavefield Inseis (Norway)
Website www.cgg.com

CGG SA (CGG) is a multinational geoscience technology services company that specializes on solving complex natural resource, environmental and infrastructure challenges. [1] [2] [3] [4]

Contents

CGG is listed on Euronext Paris, and was listed on the New York Stock Exchange until October 1, 2018. [5] [6]

In December 2023, the company was authorized to conduct seismic blasting between Plettenberg Bay and Gqeberha in South Africa. The decision sparked protests by environmentalist groups who accused the company of involvement in ecocide. [7]

History

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 (CGG). 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 DGC

Veritas Energy Services, a geophysical services company, was established in 1974 in Calgary, Alberta, Canada with the purchase of a Rafael Cruz owned firm Rafael B. Cruz and Associates Ltd. by David B. Robson.

Meanwhile, Digital Consultants Inc. had been established in Houston, Texas in 1965. In 1969, Digital Consultants reincorporated as Digicon Inc. (DGC), becoming a public company on the American Stock Exchange.

In 1996, Veritas DGC was formed from the merger of Veritas and Digicon.

CGGVeritas

The company became CGGVeritas through its merger with the North American company Veritas in 2007.

CGGVeritas acquired Norwegian company Wavefield Inseis in December 2008. [8]

CGG

In September 2012, CGGVeritas acquired Fugro's Geoscience Division for €1.2 billion, [9] and changed back its name to CGG

In 2020, the group's net loss reached $442m due to oil crisis which followed the COVID-19 pandemic, compared to $69m in 2019, while turnover fell 35% to $886m. For 2021, CGG expected more optimistic outcome due to vaccination and the rebound in oil prices. [10]

Operations

Natural Resources

CGG develops geoscience technology to find natural resources and manage those resources sustainably. The organization focuses on the development process of oil & gas, the lifecycle of minerals & mining, and the monitoring and evaluation of geothermal developments.

Minerals and Mining: CGG supports mineral exploration through global geological predictions and plate kinematic studies, satellite-derived surface material alteration targeting, provision of geophysical equipment, and the development and provision of modeling software. [11] [12]

Geothermal: CGG evaluates and monitors geothermal developments to gain insight across asset life cycle by utilizing data & analytics, resource assessments, reservoir characterization, and production & monitoring. [13]

Environmental

CGG utilizes analytics and earth monitoring to understand human impact on environment. CGG focuses on critical environmental insight (on land, ocean, or atmosphere) through remote sensing, machine learning analytics, data analysis & interpretation, and high performance computing (HPC). [14]

Some of the environmental projects in which CGG has worked on include conducting microplastics pollution surveys as part of study for an effort to create a Plastic Free zone at Yr Wydffa (Snowdon). [15]

Infrastructure

CGG utilizes monitoring technology to understand infrastructure's life span, conditions, and need of enhancements. CGG's Sercel Structural Monitoring solutions detect potential issues early on to provide structure integrity and public safety. [16]

One of the known applications of CGG's infrastructure monitoring technology is in its work on the "Connected Bridges" project for the French public body. CGG contributed to implementation of autonomous sensors and cloud based signal processing. [17]

Energy Transition

CGG is focused on monitoring of geothermal developments, carbon capture/ utilization and storage, and management of minerals to find solutions to reach a sustainable and zero-carbon future. CGG intelligence evaluates and monitors geothermal developments across asset life. CGG has capabilities on screening, evaluating, and monitoring of sub-surface risks to speed up development and minimize risk. Additionally, CGG works on responsible management of minerals for energy transition. [18] [19] [20]

Digital

CGG has digital capabilities in data management, data transformation, machine learning, and cloud services. [21]

Organization

Equipment

CGG's Equipment business, Sercel, offers systems, sensors and sources for seismic acquisition and downhole monitoring. [4] Oilfield service companies and geophysical contractors use the equipment for monitoring subsurface characteristics on onshore, offshore, downhole and seabed activities.

Acquisition

CGG has had data acquisition capabilities to conduct geophysical surveys, both on the ground (Land division) and at sea (Marine division).

In a move to focus on geophysical services, it got rid of those divisions, ending in 2019 by the sale of its last vessels to Shearwater Geoservices. [22]

Geology, Geophysics & Reservoir (GGR)

The Geology, Geophysics & Reservoir Division provides seismic and geophysical services for characterizing the subsurface, and monitoring hydrocarbon reservoirs. Services include Land and Marine Seismic Acquisition, Geophysical Processing and Imaging, and Reservoir Characterization.

Seismic Survey Controversies

In December 2023, it was announced by environmental group Seaspiracy that CGG had been granted authorization by the South African government to conduct seismic blasting between Plettenberg Bay and Gqeberha.

The announcement stirred backlash from environmental groups and South African civil society. This backlash mirrored a similar response to attempts by Shell PLC and Shearwater Geo to conduct seismic blasting off the Wild Coast in December 2021. [23] [24]

Related Research Articles

<span class="mw-page-title-main">Petroleum engineering</span> Extracting crude oil and natural gas

Petroleum engineering is a field of engineering concerned with the activities related to the production of hydrocarbons, which can be either crude oil or natural gas. Exploration and production are deemed to fall within the upstream sector of the oil and gas industry. Exploration, by earth scientists, and petroleum engineering are the oil and gas industry's two main subsurface disciplines, which focus on maximizing economic recovery of hydrocarbons from subsurface reservoirs. Petroleum geology and geophysics focus on provision of a static description of the hydrocarbon reservoir rock, while petroleum engineering focuses on estimation of the recoverable volume of this resource using a detailed understanding of the physical behavior of oil, water and gas within porous rock at very high pressure.

<span class="mw-page-title-main">Schlumberger</span> Curaçao-domiciled oilfield services company

Schlumberger NV, doing business as SLB, also known as Schlumberger Limited, is an oilfield services company. As of 2022, it is both the world's largest offshore drilling company and the world's largest offshore drilling contractor by revenue.

<span class="mw-page-title-main">Reflection seismology</span> Explore subsurface properties with seismology

Reflection seismology is a method of exploration geophysics that uses the principles of seismology to estimate the properties of the Earth's subsurface from reflected seismic waves. The method requires a controlled seismic source of energy, such as dynamite or Tovex blast, a specialized air gun or a seismic vibrator. Reflection seismology is similar to sonar and echolocation.

<span class="mw-page-title-main">Geologic modelling</span> Applied science of creating computerized representations of portions of the Earths crust

Geologic modelling,geological modelling or geomodelling is the applied science of creating computerized representations of portions of the Earth's crust based on geophysical and geological observations made on and below the Earth surface. A geomodel is the numerical equivalent of a three-dimensional geological map complemented by a description of physical quantities in the domain of interest. Geomodelling is related to the concept of Shared Earth Model; which is a multidisciplinary, interoperable and updatable knowledge base about the subsurface.

Well logging, also known as borehole logging is the practice of making a detailed record of the geologic formations penetrated by a borehole. The log may be based either on visual inspection of samples brought to the surface or on physical measurements made by instruments lowered into the hole. Some types of geophysical well logs can be done during any phase of a well's history: drilling, completing, producing, or abandoning. Well logging is performed in boreholes drilled for the oil and gas, groundwater, mineral and geothermal exploration, as well as part of environmental and geotechnical studies.

<span class="mw-page-title-main">Petroleum reservoir</span> Subsurface pool of hydrocarbons

A petroleum reservoir or oil and gas reservoir is a subsurface accumulation of hydrocarbons contained in porous or fractured rock formations.

<span class="mw-page-title-main">Magnetotellurics</span> Electromagnetic geophysical technique

Magnetotellurics (MT) is an electromagnetic geophysical method for inferring the earth's subsurface electrical conductivity from measurements of natural geomagnetic and geoelectric field variation at the Earth's surface.

<span class="mw-page-title-main">China Geological Survey</span>

The China Geological Survey (CGS) (Chinese: 中国地质调查局) is a government-owned, not-for-profit, Chinese organization researching China's mineral resources. It is a public institution managed by the State Council's ministries and commissions responsible for geological and mineral exploration under the State Council of the People's Republic of China. According to the national land and resources survey plan, it is now managed by the Ministry of Natural Resources. It is the largest Geoscience agency in China since being reinstated in 1999, and the headquarter is in Beijing, the capital of China.

The California Department of Conservation is a department within the government of California, belonging to the California Natural Resources Agency. With a team of scientists, engineers, environmental experts, and other specialists, the Department of Conservation administers a variety of programs vital to California's public safety, environment and economy. The department's mission is to manage California's working lands. It regulates oil, natural gas and geothermal wells; studies and maps earthquakes and other geologic phenomena; maps and classifies areas containing mineral deposits; ensures reclamation of land used for mining; and administers agricultural and open-space land conservation programs. A division within the department dedicated to encouraging beverage container recycling has been moved into the newly created Department of Resources Recovery and Recycling (CalRecycle). Despite the similar name, the Department of Conservation should not be confused with the California Conservation Corps, another department within the Natural Resources Agency, which provides work experience for young adults. The Department of Conservation often collaborates with its federal equivalents, such as the U.S. Geological Survey.

Petrophysics is the study of physical and chemical rock properties and their interactions with fluids.

<span class="mw-page-title-main">Wavefield Inseis</span>

Wavefield Inseis was a Norwegian company trading between 2001 and 2009 that provided global marine geophysical services. By 2008 the company operated a total of six geophysical survey vessels, and could supply services in 2D, 3D, 4D, multi-azimuth, and wide-azimuth, with both exclusive and multi-client services.

NPA Satellite Mapping is the longest-established satellite mapping specialist in Europe, with expertise in geoscience applications of earth observation and remote sensing. In addition to processing and distributing data from a variety of optical and radar satellites, NPA specialises in added-value and derived products, providing validation and interpretation of satellite-based imagery.

Heavy oil production is a developing technology for extracting heavy oil in industrial quantities. Estimated reserves of heavy oil are over 6 trillion barrels, three times that of conventional oil and gas.

<span class="mw-page-title-main">European Association of Geoscientists and Engineers</span>

The European Association of Geoscientists and Engineers (EAGE) is a professional organization for geoscientists and engineers, established in 1951 with a worldwide membership. The association provides a platform for professionals in geophysics, petroleum exploration, geology, reservoir engineering, mining, civil engineering, digitalization and energy transition to exchange ideas and information. EAGE operates two divisions: the Oil & Gas Geoscience Division and the Near Surface Geoscience Division.

<span class="mw-page-title-main">Mines and Geosciences Bureau</span>

The Mines and Geo-sciences Bureau (MGB) is a government agency of the Philippines under the Department of Environment and Natural Resources (DENR). The MGB is responsible for the conservation, management, development and use of the country's mineral resources, including those in reservations and public lands.

<span class="mw-page-title-main">Geothermal exploration</span>

Geothermal exploration is the exploration of the subsurface in search of viable active geothermal regions with the goal of building a geothermal power plant, where hot fluids drive turbines to create electricity. Exploration methods include a broad range of disciplines including geology, geophysics, geochemistry and engineering.

<span class="mw-page-title-main">Bureau de Recherches Géologiques et Minières</span> French geological survey

BRGM is France's public reference institution in Earth Science applications for the management of surface and subsurface resources and risks. It is the French Geological Survey.

Nigel Press is a British geologist who pioneered the development of commercial applications of satellite earth observation technology in geo-science, and founded Europe's longest standing satellite mapping company.

With the development of both conventional and unconventional resources in Canada, induced seismicity caused by anthropological activities has been observed, documented, and studied.

Sherilyn Williams-Stroud has been active in the field of geology for over three decades, where she has been recognized as one of the most important women in the field. In terms of representation in STEM. Throughout her career she has been paving the way for women, ethnic minorities, members of the LGBT community as well as other communities to nullify that underrepresentation. Williams-Stroud attended Oberlin College where she studied geology and graduated from in 1981, and she earned both her master's degree in geology (1984) and her PhD in structural geology (1988) from Johns Hopkins University. Although her work is dedicated to sedimentology, geophysics and geochemistry, she does have particular areas of expertise in fracture modelling, stress and strain analysis, rock fracture mechanics with applications to oil and gas production and exploration, geothermal energy, evaporite, geochemistry and other resources. Williams-Stroud created her own company Confractus, Inc. Williams-Stroud is an active member of several professional organizations as well as a leading activist of the Black Lives Matter movement.

References

  1. "CGG Launches MineScope for Essential Insight throughout the Mining Lifecycle". barsc.org.uk. 11 April 2019. Retrieved February 13, 2022.
  2. "CGG launches monitoring solution for tailings storage facilities". globalminingreview.com. 9 November 2021. Retrieved February 13, 2022.
  3. "CGG Launches SeaScope as part of expanding environmental monitoring portfolio". ml-eu.globenewswire.com (Press release). May 6, 2021. Retrieved February 13, 2022.
  4. 1 2 "CGG: Sercel Brings its Technical Expertise to Structural Health and Earth Monitoring Markets". live.euronext.com (Press release). April 12, 2019. Archived from the original on February 13, 2022. Retrieved February 13, 2022.
  5. "CGG Plans to Delist from the NYSE". marinelink.com. September 11, 2018. Retrieved February 13, 2022.
  6. "CGG to Apply for the Delisting of its American Depositary Shares from the New York Stock Exchange and Deregistration with the Securities and Exchange Commission". globenewswire.com (Press release). September 11, 2018. Retrieved February 13, 2022.
  7. "Nelson Mandela Bay anti-seismic survey protesters blast CGG authorisation". Herald Live. 10 December 2023.
  8. "CGG: Our History 2009". CGG. Retrieved 15 May 2015.
  9. "Transforming CGGVeritas into a Leading Integrated Geoscience Company". CGGVeritas.com. 24 September 2012. Archived from the original on 23 September 2015. Retrieved 2 April 2021.
  10. "CGG creuse ses pertes en 2020, attend une reprise cette année". Le Figaro (in French). 5 March 2021.
  11. "Minerals & Mining Resources". CGG.
  12. "CGG Launches MineScope". BARSC.
  13. "CGG wraps up global geothermal study for energy major". Upstream, NHST Media Group. Retrieved 20 October 2020.
  14. "Environmental Sciences". CGG.
  15. "Creating a Plastic Free Zone on Snowdon". BusinessNewsWales. Retrieved 31 August 2021.
  16. "About us". Sercel Structural Health Monitoring. Retrieved 2022-05-06.
  17. "Sercel selected by Cerema for "Connected Bridges" project". blog.sercel.com. Retrieved 2022-05-06.
  18. "CGG: Energy Transition". www.cgg.com. Retrieved 2022-05-06.
  19. "CGG: Minerals & Mining Services". www.cgg.com. Retrieved 2022-05-06.
  20. GMT, Recharge Content Studio www cgg com Published 25 January 2022 21:21. "Geoscientists bring expertise to carbon capture and storage | Recharge Sponsor Content". Recharge | Latest renewable energy news. Retrieved 2022-05-06.{{cite web}}: CS1 maint: numeric names: authors list (link)
  21. "CGG: Digital". www.cgg.com. Retrieved 2022-05-06.
  22. "StackPath".
  23. "Nelson Mandela Bay anti-seismic survey protesters blast CGG authorisation". Herald Live. 10 December 2023.
  24. "Activists in SA threaten to bring Shell to its knees amid protests against plans to conduct a seismic survey". SABC. 5 December 2021.