Geco-Prakla was a European geophysical

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...

 service company specializing in seismic survey

Reflection 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/Tovex, a specialized air gun or a...

s for petroleum

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...

 exploration.

History

The company started as Geoteam-Computas Ltd. A.S. on December 13, 1972. The name was later changed to Geophysical Company of Norway or Geco. Anders Farestveit was the founder and CEO. The main focus was marine seismic surveys. Geco was merged with Statex (owned by Statoil

Statoil

Statoil ASA is a Norwegian petroleum company established in 1972. It merged with Norsk Hydro in 2007 and was known as StatoilHydro until 2009, when the name was changed back to Statoil ASA. The brand Statoil was retained as a chain of fuel stations owned by StatoilHydro...

 and Kongsberg Våpenfabrikk) in 1977.

The company enjoyed strong expansion until 1985, when there was a global crisis in the oil industry. In the summer of 1986 Schlumberger Limited purchased first 50%, then the entire company. This brought about a merger with Merlin Geophysical (Seismic Profilers), who had been purchased by Schlumberger a year earlier.

Mergers with other geophysical companies followed, including Delft Geophysical, Prakla-Seismos and Seismograph Services Ltd. Following the merger with Prakla-Seismos the company was renamed Geco-Prakla. In 2001, Geco-Prakla was joined with the Western Geophysical

Western Geophysical

Western Geophysical was a company founded in California in 1933 by Henry Salvatori for the purpose of using reflection seismology to explore for petroleum....

 division of Baker Hughes

Baker Hughes

Baker Hughes Baker Hughes provides the world's oil & gas industry with products and services for drilling, formation evaluation, completion, production and reservoir consulting. Baker Hughes operates in over 90 countries worldwide mainly based in countries with a mature petroleum industry as is...

 in a joint venture named WesternGeco

WesternGeco

WesternGeco is a geophysical services company. It is headquartered in the Schlumberger House on the property of London Gatwick Airport in Crawley, West Sussex, in Greater London.-Background:...

. Schlumberger retained 70% ownership in the venture; Baker Hughes owned the remaining 30%.

In April 2006 Schlumberger acquired the 30% from Baker Hughes for $2.4 billion.