Compagnie Générale de Géophysique
Encyclopedia
Compagnie Générale de Géophysique (CGG) was a geophysical
services company, providing seismic data acquisition, processing and interpretation services, as well as related processing and interpretation software to clients in the oil
and gas
exploration and production business. The firm merged with United States
-based competitor Veritas in early 2007, forming CGGVeritas
.
CGG's clients were principally oil and gas companies using seismic imaging in exploration for, and development and production of oil and gas reserves. Seismic imaging is used to identify new areas where subsurface conditions are favorable for the accumulation of oil and gas, determining the size and structure of previously identified oil and gas fields and optimizing the development and production of oil and gas reserves (reservoir management). CGG also manufactured geophysical equipment.
.
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 January 2007, CGG merged with Veritas DGC Inc creating CGGVeritas
.
Geophysics
Geophysics is the physics of the Earth and its environment in space; also the study of the Earth using quantitative physical methods. The term geophysics sometimes refers only to the geological applications: Earth's shape; its gravitational and magnetic fields; its internal structure and...
services company, providing seismic data acquisition, processing and interpretation services, as well as related processing and interpretation software to clients in the oil
Petroleum
Petroleum or crude oil is a naturally occurring, flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds, that are found in geologic formations beneath the Earth's surface. Petroleum is recovered mostly through oil drilling...
and gas
Natural gas
Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...
exploration and production business. The firm merged with United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
-based competitor Veritas in early 2007, forming CGGVeritas
CGGVeritas
CGGVeritas is a French-based geophysical services company, resulting from the 2007 combination of Compagnie Générale de Géophysique and Veritas DGC Inc.-CGG:CGG was founded in 1931 by Conrad Schlumberger and acquired its first seismic survey in 1932...
.
CGG's clients were principally oil and gas companies using seismic imaging in exploration for, and development and production of oil and gas reserves. Seismic imaging is used to identify new areas where subsurface conditions are favorable for the accumulation of oil and gas, determining the size and structure of previously identified oil and gas fields and optimizing the development and production of oil and gas reserves (reservoir management). CGG also manufactured geophysical equipment.
History
In 1926, Conrad Schlumberger, and his brother Marcel Schlumberger, formed Société de Prospection Electrique (SPE) which specialised in oil and coal exploration as well as civil engineeringCivil engineering
Civil engineering is a professional engineering discipline that deals with the design, construction, and maintenance of the physical and naturally built environment, including works like roads, bridges, canals, dams, and buildings...
.
In March 1931, SPE and Société Géophysique de Recherches Minières (SGRM), both specialists in seismology
Seismology
Seismology is the scientific study of earthquakes and the propagation of elastic waves through the Earth or through other planet-like bodies. The field also includes studies of earthquake effects, such as tsunamis as well as diverse seismic sources such as volcanic, tectonic, oceanic,...
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 January 2007, CGG merged with Veritas DGC Inc creating CGGVeritas
CGGVeritas
CGGVeritas is a French-based geophysical services company, resulting from the 2007 combination of Compagnie Générale de Géophysique and Veritas DGC Inc.-CGG:CGG was founded in 1931 by Conrad Schlumberger and acquired its first seismic survey in 1932...
.
External links
- CGGVeritas website
- Early fortunes of CGG in a volatile world, First Break, November 2006