CGG Provides Its Vessel Utilization Update For The Third Quarter 2013

PARIS, Oct. 10, 2013 (GLOBE NEWSWIRE) --
CGG  provides its  vessel utilization  and its  fleet allocation updates for thethird quarter of 2013.Vessel utilization for the third quarter of 2013:  * The   vessel  availability  rate(1)  was  89% in  line  with  the  Company's    expectations  as a consequence of a higher level of planned maintenance this    quarter.  This compares to  a 93% availability rate  in the third quarter of    2012 and in the second quarter of 2013.  * The  vessel production  rate(2) was  94% at a  historically high level. This    compares  to a 90% production rate  in the third quarter  of 2012 and a 92%    rate in the second quarter of 2013.Fleet allocation update for the third quarter of 2013:During  the third quarter of 2013, our 3D vessels were allocated 78% to contractand 22% to multi-client programs.1 - The vessel availability rate, a metric measuring the structural availabilityof  our vessels to meet demand; this metric  is related to the entire fleet, andcorresponds  to the total vessel time reduced by the sum of the standby time, ofthe  shipyard time and the steaming time  (the "available time"), all divided bytotal vessel time;2 -  The vessel production rate, a metric measuring the effective utilization ofthe  vessels once  available; this  metric is  related to  the entire fleet, andcorresponds  to the available time reduced by the operational downtime, all thendivided by available time.About CGGCGG (www.cgg.com) is a fully integrated Geoscience company providing leadinggeological, geophysical and reservoir capabilities to its broad base ofcustomers primarily from the global oil and gas industry. Through its threecomplementary business divisions of Equipment, Acquisition and Geology,Geophysics & Reservoir (GGR), CGG brings value across all aspects of naturalresource exploration and exploitation.CGG employs over 9,800 people around the world, all with a Passion forGeoscience and working together to deliver the best solutions to its customers.CGG is listed on the Euronext Paris SA (ISIN: 0000120164) and the New York StockExchange (in the form of American Depositary Shares. NYSE: CGG).ContactChristophe BarniniTel: +33 1 64 47 38 11E-Mail: invrelparis@cggveritas.comThe  information  included  herein  contains  certain forward-looking statementswithin the meaning of Section 27A of the securities act of 1933 and section 21Eof the Securities Exchange Act of 1934. These forward-looking statements reflectnumerous  assumptions  and  involve  a  number  of  risks  and  uncertainties asdisclosed  by the Company from  time to time in  its filings with the Securitiesand Exchange Commission. Actual results may vary materially.CGG - Vessel Utilization Q3 2013: http://hugin.info/142000/R/1734568/581024.pdf[HUG#1734568]

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