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$849m as of December 31, 2020 CGG is in a leading position to benefit from progressive market recovery   With continuing acceleration of Covid-19 vaccinations world economies should continue to progressively recover from pandemic in 2021. Recent OPEC+ agreements support the rebalancing of supply and demand and Brent oil price has gradually recovered and stabilized above the $50/bbl threshold. CGG will continue to invest in geoscience technologies that support clients’ prioritization towards reservoir development and production optimization. After a low Q1, our Geoscience activity will start recovering during the second half of the year on the back of solid demand for best-in-class subsurface imaging technologies and sustained activity with large NOCs. Our Multi-client business will reduce capex keeping its focus on expanding our unique footprint offshore Brazil and in the North Sea while reprocessing existing data libraries with our latest imaging technologies.

Saudi arabiaUnited statesFrance generalNorth seaOceans generalSophie zurquiyahNaitional oil companiesNon oil gasClient data libraryGroup ebitdasGroup netResearch developmentOil gasFull yearNet cash flowSolid operational