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.




Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...