CGG and TAQA Signed Definitive Shareholder Agreement

Share Name	Share Symbol	Market	Type
Comp Gen Geophys	NYSE:GGY	NYSE	Ordinary Share

Share Name

Share Symbol

Market

Type

Comp Gen Geophys

NYSE:GGY

NYSE

Ordinary Share

Price Change

% Change

Share Price

High Price

Low Price

Open Price

Shares Traded

Last Trade

0.00

0.00%

0.00

CGG and TAQA Signed Definitive Shareholder Agreement

17/07/2006 7:00am

PR Newswire (US)

Comp Gen Geophys (NYSE:GGY)
Historical Stock Chart

From Aug 2019 to Aug 2024

Click Here for more Comp Gen Geophys Charts.

PARIS, July 17 /PRNewswire-FirstCall/ -- Compagnie Generale de Geophysique (CGG) (ISIN : 0000120164 - NYSE : GGY) announces the closing of the transaction with Industrialization & Energy Services Company (TAQA), related to CGG Ardiseis, which follows the Memorandum of Understanding signed by both parties in Bahrein, on March 27th 2006. As from June 24 2006, TAQA, CGG's long term Saudi Partner in ARGAS, owns 49% of the capital of CGG Ardiseis, a newly formed CGG subsidiary dedicated to Land & Shallow Water Seismic Data Acquisition in the Middle East. CGG holds the remaining 51%. CGG Ardiseis, located in Dubai, provides its clients with the whole range of CGG Land and Shallow Water Acquisition Services in the Middle East region where a sustained high activity is expected across the next decade. The Industrialization & Energy Services Company (TAQA) was conceived by the Saudi Ministry of Petroleum and Mineral Resources and is tasked with establishing a wide range of industries and services in support of the energy sector. The company's major objective is to localize such industries and services. It has majority ownership in two subsidiaries with activities in exploration and drilling, Arabian Drilling Company (ADC) and ARGAS. With several projects currently under planning and development, TAQA is currently in a growth mode and has embarked on a regional expansion strategy. The Compagnie Generale de Geophysique (CGG) is a global participant in the oilfield services industry, providing a wide range of seismic data acquisition, processing and reservoir services and software to clients in the Oil and Gas exploration and production business. It is also a global manufacturer of geophysical equipment through its subsidiary Sercel. The information included herein contains certain forward-looking statements within the meaning of Section 27A of the securities act of 1933 and section 21E of the Securities Exchange Act of 1934. These forward-looking statements reflect numerous assumptions and involve a number of risks and uncertainties as disclosed by the Company from time to time in its filings with the Securities and Exchange Commission. Actual results may vary materially Contact : Christophe BARNINI +33-1-64-47-38-10 / +33-1-64-47-38-11 Email : Internet : http://www.cgg.com/ DATASOURCE: Compagnie Generale de Geophysique (CGG) CONTACT: Contact : Christophe BARNINI +33-1-64-47-38-10

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

GGY Comp Gen Geophys