CGG: Record Backlog Close to One Billion Dollars
Compagnie Generale de Geophysique says the group has a backlog of $970 million as of January 1, 2006, up 28% compared to November 1, 2005 and up 110% compared to January 1, 2005.
Backlog for the CGG Services division as of January 1, 2006 was $758 million, up 112% year on year. This strong increase comes mainly from the Offshore business unit and reflects the good market conditions prevailing in this sector.
Sercel's external backlog as of January 1, 2006 was $212 million, up 93% year on year.
Backlog for both Sercel and Services extends into 2007, thereby providing good visibility.