An Extraordinary Year for Geoservices

Financial Results for 2008 – Monday 16th March, 2009

The oil & gas services Group, Geoservices*, world leader in Mud Logging and world N°2 in Well Intervention, more than 5, 000 people worldwide, has announced a turnover of US$ 510 million for 2008, up from US$ 416 million in 2007.

Breakdown of 2008 turnover by business segment
Mud Logging: 66%
Well Intervention: 24%
Field Surveillance: 6%
Other: 4%

Breakdown of 2008 turnover by geographic area
Africa-Mediterranean: 31%
Asia: 22%
Americas: 21%
North Europe: 14%
Middle East: 12%

For Philippe Salle, Geoservices CEO; “2008 was another record year for the Group. All our business segments showed strong growth, particularly Well Intervention, with 5 company acquisitions, notably Production Wireline Services in the United States and Wireline Services & Mfg in Italy that have elevated Geoservices to rank second in the world in this market”.

(*) About the Geoservices Group

The Geoservices Group (more than 5,000 employees worldwide – US$ 510 million turnover in 2008) provides a range of oil field services that help evaluate hydrocarbon reservoirs and optimize field exploration, development and production. It serves oil and gas companies worldwide through a network of bases in 53 countries, covering all the main areas where oil or gas is to be found. Its services include Mud Logging (world leader), Well Intervention (World N°2) and Field Surveillance.

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Information: Agathe Weil, Communications Manager +33 1 4159 2405 / agathe.weil@geoservices.com