CGG anticipates Q3 2021 segment revenue to be around $270 million, up 35% year-on-year and up 72% sequentially.

• Geoscience segment revenue is expected to be around $77 million, stable year-on-year and up 5% sequentially.
• Multi-Client segment revenue is expected to be around $92 million, up 26% year-on-year and up 149% sequentially. 
• Equipment segment revenue is expected to be around $101 million, up 102% year-on-year and up 110% sequentially.

Sophie Zurquiyah, CEO, CGG, said: 
“We delivered a robust third quarter performance, confirming the anticipated trends of gradual recovery in Geoscience, sustained demand for our Multi-client data located in the world’s most active basins, and a pick-up in Equipment deliveries in the second half of the year. Multi-client prefunding revenue for the quarter was around $59 million and after-sales increased to around $33 million this quarter.” 

KeyFacts Energy Industry Directory: CGG