View source for Geco (Geophysical Company of Norway)

{{Infobox company
| name        = Geophysical Company of Norway
| logo        = TheGecoLogo1972.png
| type        = [[Public company|Public]]
| traded_as   =
| predecessor =
| successor   = [[Geco-Prakla]]<br />[[WesternGeco]]
| founder     = Anders Farestveit
| defunct     = {{End date and age|1993}}
| fate        = Merged with [[Merlin Geophysical]],<br />[[Prakla-Seismos]] and others
| area_served = Petroleum exploration
| industry    = [[Oil and gas industry|Oil and gas]]
| foundation  = {{start date and age|1972}}
| services    = [[reflection seismology|Seismic data acquisition]]s<br>
[[Reflection seismology#Seismic data processing|Seismic data processing]]<br>
[[Reflection seismology#Seismic interpretation|Seismic data interpretation]]<br>
[[Well logging]]
| parent      = [[Kongsberg Våpenfabrikk]]<br>[[Det Norske Veritas]]
| website     =
}}
'''Geco (Geophysical Company of Norway)''' was a European [[geophysics|geophysical]] service company specializing in [[reflection seismology|seismic survey]]s for [[petroleum]] exploration. Starting operating in the [[North Sea]] from 1972, the company expanded to operate in most marine areas open for explorations, until Geco was incorporated into [[Geco-Prakla]], with [[Schlumberger Limited]] as the solely owner from 1993.
==History==
The company started as '''Geoteam-Computas''' Ltd. A.S on December 13, 1972. The name was shortly afterwards changed to '''Geophysical Company of Norway''',  most commonly referred to as '''Geco'''. Anders Farestveit was the founder and the first [[CEO]]. The main focus was marine seismic surveys, including developing and equipping seismic vessels and conducting seismic surveys on customer requests. Geco was merged with the competing Norwegian geophysical company at that time, [[Statex (Geophysical company)|Statex]] (owned by [[Statoil]] and [[Kongsberg Våpenfabrikk]]) effective from January 1, 1978. Ownership after the merger was shared between Kongsberg Våpenfabrikk and [[Det Norske Veritas]].<ref name="SA10.1.1978"/>
Geco retained its identity and name, but extended its service portfolio and global market share from 1978. Besides seismic surveys, the company offered data processing services and interpretation services. The company was spending its earnings in the area of technology research and development. They succeeded in offering a first commercial available 3D seismic interpretation workstation, "Charisma" software, from 1983. Development of a first digital streamer cable, named "Nessie", was completed and in operation from 1984.
The company enjoyed strong expansion until 1985, when there was a global crisis in the oil industry. In the summer of 1986 Schlumberger Limited purchased first 50%, then in 1988 the entire company. This brought about a merger with [[Merlin Geophysical]] ([[Seismic Profilers]]), who had been purchased by Schlumberger a year earlier.
Mergers with other geophysical companies followed, including Delft Geophysical, Prakla-Seismos (founded in 1963 by merger of Seismos GmbH (founded 1921) and Gesellschaft für '''Pra'''ktische '''La'''gerstättenforschung ('''Prakla''') GmbH (founded 1937)) and Seismograph Services Ltd (owned at the time by [[Ratheon]] and based in [[Holwood House|Holwood Park]], [[Keston]], Kent, UK). Following the merger with Prakla-Seismos in 1993, the company was renamed Geco-Prakla.<ref name="Großmann"/> In 2001, Geco-Prakla was joined with the [[Western Geophysical]] division of [[Baker Hughes]] in a joint venture named [[WesternGeco]].  Schlumberger retained 70% ownership in the venture; Baker Hughes owned the remaining 30%.
In April 2006 Schlumberger acquired the 30% interest from Baker Hughes for $2.4 billion.
Now, this company doesn't exist anymore. All of its assets, employees, and legal identities belong to Schlumberger.
==References==
* På dypt vann - Et høyteknologisk eventyr. Halvor Kr. Bjerke, 1989. (''In deep waters - a high-tech adventure'').
{{Reflist|refs=
<ref name="SA10.1.1978">''Stavanger Aftenblad'', newspaper article on page 9, 10. January 1978</ref>
<ref name="Großmann">Manfred Großmann, Meixner E., Keppner, G.  ''[http://www.prakla-seismos.de/History.html Geschichte der  PRAKLA - SEISMOS]'', (PRAKLA - SEISMOS log of events since 1917, web page)</ref>
}}
{{Authority control}}
[[Category:Oilfield services companies]]
[[Category:History of the petroleum industry in Norway]]
[[Category:Defunct companies of Norway]]
[[Category:Engineering companies of Norway]]
[[Category:Non-renewable resource companies established in 1972]]
[[Category:Non-renewable resource companies disestablished in 1993]]
[[Category:Seismology]]