Fugro Cuts Losses
Dutch subsea and survey specialist Fugro has posted net loss of €160 million for the year 2017, against net loss of €309 million in 2016. The company’s revenue, however, fell close to 16 per cent from €1.77 billion in 2016 to €1.5 billion in 2017. Fugro’s marine division, with revenue at €947 million, […]
Rig contractor Borr Drilling to take over Paragon
Borr Drilling said today it had struck a deal to take over rival company Paragon Offshore. The transaction, which has the backing of Paragon’s board, is expected to close on March 26. Oslo-listed Borr has offered $42.28 per share. The deal value Paragon at $232.5million. Paragon, which has an office in Westhill, said it had […]