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

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. The vessel 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.




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