Uncertainty Reduces New Oil and Gas Investment
Several news items this week highlight the potential consequences of uncertainty in the energy market.Fugro scrapped its annual outlook and announced further job cuts, citing an impact from project delays. The company said that projects in the offshore wind and oil and gas markets would be delayed into 2026 and their scope cut back, resulting in an estimated 100 million euros ($117.5 million) impact on its revenue."The previously anticipated 20% revenue growth is no longer realistic," Fugro said, adding it saw the most significant impact in the oil and gas market, along with further softening
Fugro Scraps 2025 Outlook, Announces Job Cuts
data specialist Fugro scrapped its annual outlook on Monday and announced further job cuts, citing an impact from project delays, sending its shares lower.Shares in Fugro were down around 11% to their lowest since March 2022 at 0705 GMT.The company said that projects in the offshore wind and oil and gas markets would be delayed into 2026 and their scope cut back, resulting in an estimated 100 million euros ($117.5 million) impact on its revenue."The previously anticipated 20% revenue growth is no longer realistic," Fugro said, adding it saw the most significant impact in the oil and gas
Ocean Floor Geophysics Buys NCS Subsea and Its P-Cable System
was assisted in this transaction by PGS, OFG’s largest shareholder. “OFG is delighted to complete the acquisition of NCS and its P-Cable ultra-high-resolution 3D seismic technology. We have seen a significant market interest in P-Cable over the past few months in both traditional oil and gas markets for shallow imaging of reservoirs and geohazards, as well as in new energy markets, particularly for offshore wind surveys. We look forward to offering P-Cable products and services to existing and new customers.” says Matthew Kowalczyk, CEO of OFG. “This transaction further
Fugro ROVs for Normand Clipper Vessel
two Fugro ROVs form an important part of our wider upgrade and mobilization plan for the Normand Clipper, ahead of some exciting projects for us in the coming months.”Global Offshore, a provider of cable installation, repair and trenching services to the offshore renewables, utilities, and oil and gas markets and part of the Global Marine Group, in February announced the long-term charter of the Normand Clipper from Solstad Offshore. The charter gives Global Offshore options for up to eight years
SWORD Seafloor Rig Set for Sea Trials
Royal IHC, a Dutch marine equipment and vessel provider, has said that extensive tests have been completed on a new seabed geotechnical drill designed for offshore wind and oil and gas markets, and the rig will now go on seatrials before hitting the market.The seafloor rig, named SWORD (sonic wireline-operated remote drill), has, according to Royal IHC, has successfully completed an extensive testing program including harbor trials. The seafloor rig has been developed by TI Geosciences LTD, a start-up backed by Royal IHC."SWORD is now ready to be set-up onto its permanent vessel and start sea
Aqueos Names Legendre VP
and West Africa."Aqueos Corporation, with offices in Texas, Louisiana and California, provides marine construction and specialty subsea services including a complete range of commercial diving, remotely operated vehicles (ROV’s) and vessel-related services primarily to the offshore oil and gas markets
Trelleborg Acquires Automated Dynamics
strengthen its positions in attractive market segments. “The acquired company provides key capabilities in composites, bringing new competences to Trelleborg Sealing Solutions. We already see many opportunities for new products, applications and materials for the aerospace and oil and gas markets, and in the long-term also for other markets,” said Claus Barsøe, President of the Trelleborg Sealing Solutions business area. “The acquired company’s expertise in automation of the production of composite products is impressive and should be possible to leverage into
SoCal Tech Focus: SIDUS Solutions
San Diego-based SIDUS Solutions is a manufacturer and an integrated systems provider of robust video surveillance systems. SIDUS provides services and equipment for subsea, heavy commercial, industrial and oil and gas markets. SIDUS’ primary products are image transmission, storage and retrieval systems. These products allow for the capture, inspection, observation, storage and evaluation of the customers’ applications. The urgency and requirement for target customers to acquire high quality, intelligible images and to integrate these images within their operations is the basis for the
Atlantic Canada: Where the World’s Subsea Technology Grows
some unique tanks; they are really wonderful capital assets but they tend to get under-utilized. When you look at the Ocean Business today, where – by region or market sector – do you see opportunity, and why? I think it’s food. (Considering that both the defense and oil and gas markets are already more mature in this sense, and perhaps not the best candidates for disruptive technologies). There are also huge opportunities in marine renewable energy; this is high velocity growth but it’s starting from nothing, so it’s not that big yet. But if you look at food
December 2025
