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 rate(1) 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 rate(2) 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:

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

Tags: CGGVeritas