First Geo is a relatively young company, established in 1995 as JSI – Jepsen, Sørensen & Ilebekk AS. JSI was founded as a consulting business that offered services and expertise in the fields of geology and geophysics to oil companies in Norway. The headquarters were located in Stavanger, with a subsidiary office in Oslo.

In 1998 the company was sold to Aker Maritime and renamed Aker Geo Petroleum Services AS (AGPS). When Aker Maritime and Kværner merged in March 2002, AGPS once again changed names, this time to Aker Kværner Geo AS (AKG). In 2008, when Aker Kværner changed names to Aker Solutions, the company name became Aker Geo AS. When Aker Solutions split into two companies in 2014, Aker Geo became First Geo AS, part of Akastor, a Norway-based oil-services investment company.