CGG provides vessel utilization report (for 4Q and Year 2013)

CGG has provided its vessel utilization and fleet allocation updates for 4Q and Year 2013.

Jan 14th, 2014

Offshore staff

PARIS –CGG has provided its vessel utilization and fleet allocation updates for 4Q and Year 2013.     
                                                                                                                   
In 4Q 2013, the company’s vessel availability rate was 83%, in line CGG’s forecasts made during its recent Capital Market Day and following the delay of recently awarded large contracts. This compares to an 89% availability rate in 3Q 2013 and a 93% rate in 4Q 2012.

The vessel production rate was 90%. This compares to a 94% production rate in 3Q 2013 and an 89% rate in 4Q 2012. During 4Q 2013, CGG’s 3D vessels were allocated 66% to contract and 34% to multi-client programs.

For full-year 2013, the vessel availability rate for the full-year 2013 was 89%. This compares to a 90% rate for the full-year 2012. Thevessel production rate was 92% for the full-year 2013. This compares to a 90% rate for the full-year 2012. During 2013, CGG’s 3D vessels were allocated 72% to contract and 28% to multi-client programs.

CGG’s backlog as of Jan. 1 stood at $1,340 million, sequentially stable and up 9% compared to last year.

01/14/2014

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