For Geoscience specifically, revenue increased 31% to $105...

For Geoscience specifically, revenue increased 31% to $105 million making Q2 2024 the strongest quarter since Q4 2015.

compute capacity upgrades will continue as they are key to driving the growth and performance of our technology businesses.

Our geoscience market is gradually strengthening, driven mainly by 4D seismic monitoring, infrastructure-led exploration and near field development. In complex offshore environments, the use of ocean bottom node technology is expanding, requiring the most advanced technologies to extract valuable insights. In land environment, our advances in full waveform imaging are also driving the reprocessing of existing data for the identification of new reservoirs and the optimization of mature fields.

Another illustration of the favorable environment is order intake growing 55% in H1 year-on-year with increasing project sizes and broad adoption of our most advanced imaging technologies.

Our new businesses are also showing positive momentum with a few larger imaging contracts for both CCUS and Minerals and Mining. Advanced Imaging is unlocking valuable information from all the datasets for such applications.

The pictures show our work in the Sultanate of Oman where our full waveform imaging velocity model and full waveform imaging image improved geological understanding of the reservoir structures and reduces subsurface uncertainties. We continue to advance and adapt the technology we initially developed for marine data, and it is now achieving excellent results on challenging land data, which is typically very noisy. [We note DUG’s MP-FWI has already adapted for land data].

Of commercial interest to Viridien is the success of this technology in the Middle East, a region which is key for our growth. Given the large amounts of data acquired over the years, this represents a significant opportunity for our geoscience business to reprocess all the data.

The macro environment in our core markets continue to strengthen, and we are gradually benefiting from the increases in E&P CapEx.

on the EBITDA geoscience margin, as we don't provide the margin directly, but we do provide a proxy, which is that revenue per head and that you see that number sort of continuously cranking up. Of course, when we do geoscience, we need two resources. We need essentially the people and, but also, we need the computers. And as we've invested massively into a new center last year, which we have to pay for and then falls into our cost line. But despite that, we are still able to drive efficiency gains. And we've been winning large projects and large projects are good. So, I guess the size of the project increasing -- visibility increasing, we're able to definitely gain efficiencies and increase the margin.