CGG announced on Thursday that it is changing its name to become 'Viridien', a new brand to be officially launched next month with the aim of supporting its new growth strategy.

With this new name, the oilfield services group says it wants to position itself as a world leader in advanced technologies, digital and Earth data in order to accelerate its growth.

The company, which recently launched an ambitious plan to reduce its debt, plans to launch the new brand on June 10 at a conference in Oslo.

In particular, the idea is to unveil new offerings in low-carbon markets and, beyond energy, in the high-performance computing (HPC) and infrastructure monitoring markets.

Shareholders approved the resolution to change CGG's corporate name to Viridien yesterday at the Annual General Meeting.

The share reacted little to these announcements on Thursday morning on the Paris Bourse, posting a gain of around 0.5% in early trading.

The share price has risen by 25% over the past week, thanks to first-quarter results that were particularly well received by the market.

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