CGG and bp Sign Multi-Year Data Transformation Agreement

Rhea-AI Summary

CGG has entered a significant multi-year global agreement with bp for data transformation and curation, reinforcing bp's digital strategy in the Subsurface sector. The collaboration aims to enhance the use of unstructured data, facilitating better decision-making and risk assessment for asset teams. Sophie Zurquiyah, CEO of CGG, emphasized the partnership's potential to unlock substantial business value and insights drawn from disparate data sources. This contract illustrates the longstanding relationship between the two companies, leveraging CGG's expertise in data science and technology.

Positive

• Multi-year data transformation agreement with bp enhances CGG's market position.
• Partnership expected to unlock significant value from unstructured data, improving decision-making.
• CGG's expertise in data science is recognized and leveraged by a major player in the industry.

Negative

• None.

Paris, France – July 27, 2022

CGG, a global technology and HPC leader, today announced a major multi-year global data transformation and curation agreement with bp, that will play a key role in supporting bp’s Subsurface digital strategy.

Ariel Flores, SVP Subsurface, bp, said: “In our ambition to become ever more predictable and efficient in underpinning our investment decisions, we believe this agreement will provide a true win-win opportunity to leverage the capability of both companies in bringing the hidden value of unstructured data directly into the hands of our Subsurface practitioners.”

Sophie Zurquiyah, CEO, CGG, said: “We are delighted to have been selected by bp, with whom we have worked closely for many decades, for this innovative data transformation and curation partnership. This major contract recognizes the lead our Data Hub group have taken to leverage CGG’s highly differentiating subsurface and data science expertise and technology to support our clients in their digital transformation journeys. By unlocking the true value of huge volumes of disparate unstructured data, asset teams can focus on generating new insights to better understand uncertainty and risk, improve decision-making, and deliver business value.”

For more information, contact: DataHub.Sales@cgg.com

About CGG

CGG (www.cgg.com) is a global technology and HPC leader that provides data, products, services and solutions in Earth science, data science, sensing and monitoring. Our unique portfolio supports our clients in efficiently and responsibly solving complex digital, energy transition, natural resource, environmental, and infrastructure challenges for a more sustainable future. CGG employs around 3,300 people worldwide and is listed on the Euronext Paris SA (ISIN: 0013181864).

Contacts

Group Communications & Investor Relations Christophe Barnini Tel: + 33 1 64 47 38 11 E-Mail: christophe.barnini@cgg.com

 

Attachment

• CGG and bp Sign Multi-Year Data Transformation Agreement

FAQ

What is the significance of CGG's agreement with bp?

CGG's agreement with bp is a multi-year global data transformation deal that supports bp's digital strategy, aiming to enhance efficiency in investment decisions.

How will CGG's partnership with bp benefit asset teams?

The partnership will allow asset teams to access and analyze unstructured data more effectively, leading to improved decision-making and risk assessment.

Who is the CEO of CGG?

The CEO of CGG is Sophie Zurquiyah, who expressed optimism about the partnership with bp.

What expertise does CGG bring to the agreement with bp?

CGG brings its expertise in subsurface technology and data science to the partnership, facilitating effective data transformation for bp.

When was the agreement between CGG and bp announced?

The agreement was announced on July 27, 2022.