CGGVeritas

Compagnie Générale de Géophysique - Veritas S.A.
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Type	Société Anonyme
Traded as	Euronext: GA, NYSE: CGV
Industry	Oil services
Founded	2007
Headquarters	Tour Montparnasse, Paris, France
Area served	Global
Key people	Robert Brunck (Chairman), Jean-Georges Malcor (CEO)
Products	Geophysical services
Revenue	€2.186 billion (2010)
Operating income	€67.2 million (2010)
Profit	(€54.6 million) (2010)
Total assets	€5.324 billion (end 2010)
Total equity	€2.870 billion (end 2010)
Employees	7,260 (end 2010)
Website	www.cggveritas.com

CGGVeritas is a French-based geophysical services company, resulting from the 2007 combination of Compagnie Générale de Géophysique (CGG) and Veritas DGC Inc.

History

CGG

CGG was founded in 1931 by Conrad Schlumberger and acquired its first seismic survey in 1932. 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, Canada with the purchase of Rafael B. Cruz and Associates Ltd. by D. B. Robson.

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 American Stock Exchange.

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

Merger

In 2007, CGG took over Veritas DGC and changed its name to CGGVeritas.^[2]

Activities

CGGVeritas activities range from acquisition on land/shallow water, deep water, seabed, borehole and near-surface, to processing and interpretation of seismic data and well-logs. CGGVeritas also owns a large library of recent and technologically advanced multi-client data for licence in the World’s most prospective locations. The company is known in the geophysical industry for its strict adherence to HSE protocols.^{[citation needed]}