From the beginning of February 2013, all the geoscience divisions of Fugro will be incorporated into their new home in CGG, creating a fully integrated Geoscience group which the company believes holds a leading position in the fast growing high-end integrated geology and geophysics and reservoir market.
Over 2,500 ex-Fugro employees have been incorporated into this new group. The agreement with Fugro which led to this also includes strategic partnerships, such as the creation of a joint venture company, Seabed Geosolutions, owned 60%/40% by Fugro and CGG, which will focus on the rapidly growing seabed acquisition market, and a marketing and selling multi-client agreement for CGG to sell Fugro’s existing 3D data, which remains owned by Fugro.
As part of this development the company has decided to shorten and simplify its brand name from CGGVeritas to CGG, capitalising on the heritage of this long-established company.
