CGG Changes Name to Viridien

May 17, 2024

PARIS, May 16, 2024 — At CGG‘s Annual General Meeting on May 15, 2024, shareholders approved the resolution to change the company’s corporate name from CGG to Viridien.

In 2018, CGG launched a strategy to transition into a technology company. The strategy had three key pillars: First, to become asset light, ensuring an efficient cost base and enabling the company to better generate cash; second, to focus on technology differentiation in the company’s core profitable businesses; and third, to develop new areas of profitable growth.

The company has also increased its differentiation in Geoscience, Earth Data and Sensing & Monitoring. Its technologies across these core businesses, from its over 500 petaflops of High-Performance Computing capacity, to its OBN technology and advanced Full-Waveform Inversion (FWI), are clearly in a position of industry leadership.

Today, it has new businesses ideally placed for growth in the Low Carbon markets of CCUS and Minerals & Mining, as well as the Infrastructure Monitoring and High-Performance Computing markets outside of oil & gas. In 2023, these new businesses generated US$90 million in revenue.

With the successful implementation of its strategy, together with the macro market trends of increasing global energy demand, a growing commitment to sustainability, and the continued acceleration of digital technology, the name Viridien makes a clear commitment of who the company is today.

Sophie Zurquiyah, CEO, Viridien, said: “Our new name, Viridien, connects our company’s history to our future, confidently positioning us for accelerated growth as an Advanced Technology, Digital and Earth Data Company.”

The company will launch the new Viridien brand on June 10 at the upcoming EAGE Annual Conference in Oslo, further strengthening its focus across a portfolio of solutions including the Core businesses of Geoscience, Earth Data and Sensing & Monitoring, as well as new offerings in both the Low Carbon markets of Minerals & Mining and CCS, and markets beyond energy in High-Performance Computing (HPC) and Infrastructure Monitoring.

About Viridien (formerly CGG)

Viridien, (www.cgg.com), is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resource, digital, energy transition and infrastructure challenges. Viridien employs around 3,500 people worldwide and is listed as CGG on the Euronext Paris SA (ISIN: 0013181864).


Source: Viridien

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