General presentation of CGG
Before we look at the economic environment of the CGG company with its competitors and partners, let's take a few moments to recall what its businesses are and what its concrete activities are. Indeed, the CGG group is a French company that provides services and products to the oil industry. More specifically, the group is one of the world's leading providers of geophysical services and products to oil and gas companies around the world.
But to go further and better understand the activities of this group and how they generate revenue, it is possible to divide these activities into two distinct major divisions according to the share of revenue they represent and in this way:
First of all, geophysical services represent the major part of the CGG Group's activities, since they generate no less than 73.7% of the company's total revenues. These services include the recording, processing and interpretation of land and marine seismic data on behalf of major oil companies.
The remaining 26.3% of the CGG Group's revenues are generated by seismic equipment manufacturing activities. This includes recording and transmission equipment, seismic data acquisition vibrators, data processing or interpretation software and other such products that are then sold to the oil and gas industry.
From a geographical point of view, CGG's activities are of course worldwide. The largest share of the company's revenues is generated in the Europe, Africa and Middle East region, which accounts for 37.4% of sales. This is followed by North America with 20.5 percent of revenues, Latin America with 22.4 percent of revenues, and Asia-Pacific with 19.7 percent of revenues. To date, the group employs more than 5,000 people worldwide.
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