CGG: Underground Data Project for the Mining Industry in Arizona – 05/12/2022 at 08:43
(AOF) – CGG, a world leader in technologies and geosciences, announced Monday a multi-client data project focused on mining exploration and development in southeastern Arizona. . This industry-funded project is expected to start soon and license subscriptions are now open. The final products will be delivered through CGG’s proprietary GeoVerse platform.
CGG will acquire more than 270,000 linear kilometers of new weather multi-physics data, including aeromagnetic, radiometric and gravity data.
Thus, a final set of complete, coherent and interdisciplinary data will be compiled from this new data, which will be combined with 50,000 km2 of satellite and multispectral image data, as well as all borehole and geological data, by CGG earth science experts. innovative exploration methods.
“Our Underground Data Project for Southeast Arizona is an important step in our strategy to provide an innovative and efficient model for accessing integrated data in critical mining regions,” the group said.
AOF – DETAILS
Key points
– World leader in earth sciences;
– $949 million in sales, 80% of which came from the Geoscience division and the rest from the Multi-customer and equipment divisions;
– “People, information, technology” business model: sustainability of the group through positive self-financing regardless of market conditions thanks to “active lighting”, strengthening of activities with strong self-financing generation, balance sheet and presence and diversification. in the energy transition;
– Split capital, Sophie Zurquiyah general manager and Philippe Salle chairman of the 11-member board;
– In the process of cleaning up net debt, the balance was reduced to 812 million dollars, that is, 2.1 leverage effect and 417 million dollars in cash at the end of June.
Challenges
– Strategy to become a technology company with leading positions in basement imaging, cloud, data generation, sensors and acquisition systems by 2025: annual revenue growth of 13%; 37% turnover split between monitoring and surveillance, 35% digital science and energy transition;
– Innovation strategy at the source of 30% of annual turnover, focused on computing power, reinforced by R&D, which accounts for 11% of turnover;
– 2 environmental strategies with deadlines, 2030 and 2050: 50% reduction of CO2 emissions (compared to 2020), then net neutrality / 50% to 100% of the use of renewable energies (to 30% in 2020 vs.) / use of credit funds according to energy efficiency ESG criteria / activation;
– Acquisition of Geocamp and strengthening of monitoring and surveillance department with ION’s software;
– Impact of investments in computing power and “Beyond Care” activities (HPC & Cloud solutions, Data Hub) as well as partnerships in hydrogen and decarbonization.
Challenges
– Favorable effect of restoration of exploration works by oil companies;
– Return to operating profitability after 14% increase in turnover and breakeven net profit at 1
er
semester, 2022 goal: 10% revenue growth, 39-40% operating margin, 310 million euros and approximately 70 million euros in industrial and R&D investments;
– Cancellation of dividends.
Growing global demand
The IEA (International Energy Agency) estimates that global demand will remain at 99.4 Mb/d (million barrels per day) for 2022, a slight upward revision due to stronger-than-expected growth in March and April. However, this remains 1 Mb/d lower than in 2019. From 2023, the IEA predicts that global oil demand will surpass pre-Covid levels due to Chinese demand. The latter was strongly affected by serious disruptions related to Covid-19 this year. The recovery in Chinese demand next year will more than offset the slowdown in OECD countries. BEA emphasizes that in the medium term, a strong recovery in air transport is supporting oil demand, with increasingly clear dynamics in air transport in Europe and North America.
