CGG Updates on Vessel Utilization and Fleet Allocation (France)

CGG provides, for the first quarter of 2013, its vessel utilization and its fleet allocation updates with the new fleet perimeter including from the 1st of February the four Fugro C-Class vessels (Geo Coral, Geo Celtic, Geo Caribbean and Geo Caspian) and the Geo Atlantic and Geo Barents vessels.

Vessel utilization for the first quarter 2013:

The vessel availability rate1 was 88%. This compares to a 84% availability rate in the first quarter of 2012 and a 93% rate in the fourth quarter of 2012.

The vessel production rate2 was 93%. This compares to a 92% production rate in the first quarter of 2012 and a 89% rate in the fourth quarter of 2012.

Fleet allocation update for the first quarter 2013:

CGG’s 3D vessels were allocated during the quarter 64% to contract and 36% to multi-client programs compared to 23% and 24% of the 3D vessels allocated to multi-client in the first and fourth quarters 2012.

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Press Release , April 08, 2013