The company impaired marine goodwill by $415 million and swallowed $282 million in transformation restructuring costs under a transformation plan that has seen staff cut by 12%.
CGG also wrote $113 million off the value of its multi-client library in Brazil and the North Sea in particular, and wrote off a further $129 milllion mostly related to seabed activities.
Quarterly net losses shrank to $667 million in the fourth quarter compared to $810 million in the year-ago period despite revenues slipping to $906 million from $955 million over the same time frame thanks to a hike in ebitda from $280 million to $402 million.
Chief
