Fugro NV (FUGRc.AS) Key Developments | Reuters.com
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Fugro NV (FUGRc.AS)

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Latest Key Developments (Source: Significant Developments)

Court of Appeal rules in favour of Fugro and dismisses Boskalis' claim
Tuesday, 31 May 2016 02:59am EDT 

Fugro NV : Court of Appeal rules in favour of Fugro and dismisses Boskalis' claim Further company coverage: [FUGRc.AS] (Gdynia Newsroom) ((gdynia.newsroom@thomsonreuters.com; +48 58 698 3920;)).  Full Article

Fugro NV retrenches in face of oil and gas rout - Reuters News
Friday, 29 Apr 2016 05:10am EDT 

Fugro NV:Fugro said it was stepping up cost control efforts, cutting a further 600 jobs over coming quarters, as its oil and gas industry clients delayed contract awards and exploration budgets continued to shrink.In its first quarter trading update published on Friday, the company reported revenues of 441.1 million euros ($502.6 million), a year-on-year decline of 25.8 percent, while its backlog of orders for the coming 12 months was 22.3 percent down compared to a year ago.The company, whose fleet of manned and robotic vessels allow it to prospect for hard-to-reach deep-sea hydrocarbon deposits that are uneconomic when energy prices are low, has been concentrating on improving its cash flow and debt position."During the past months, our clients' exploration and production budgets again declined significantly," Chief Executive Paul van Riel said in a statement, as they anticipated "strong revenues decline and severe margin pressure.".Larger rival Boskalis BOSN.AS has been building a stake in Fugro, and now owns more than a quarter of its shares.The smaller company has rebuffed all suggestions it might be taken over, saying independence is essential to its business model.Headcount was 1,664 lower in the first quarter compared to a year ago, or 13 percent of total staff.The company plans to retire several vessels in its fleet, with further cuts planned if new work is not identified.  Full Article

Fugro comments on FY 2016 guidance
Friday, 29 Apr 2016 01:00am EDT 

Fugro NV:Outlook 2016: positive cash flow, further reduction of cost base and severe pressure on margins.  Full Article

Fugro to provide ROV services on board ONGC drillship off East India
Tuesday, 12 Apr 2016 08:00pm EDT 

Fugro NV:Fugro to provide ROV services on board ONGC drillship off East India.Contract involves providing support for deepwater drilling operations off east coast of india, in depths up to 900 metres.  Full Article

Fugro to perform seabed surveys at world's biggest offshore wind farm
Friday, 11 Mar 2016 12:34pm EST 

Fugro NV:Fugro to perform seabed surveys at world's biggest offshore wind farm.660Mw walney extension offshore wind farm is expected to be fully commissioned in 2019.  Full Article

Fugro concludes sale and lease back of two vessels
Friday, 8 Jan 2016 01:00am EST 

Fugro NV:Concludes sale and lease back of two vessels.‍Net cash proceeds of sale and lease back transaction of $106 million.‍Lease back classifies as operating lease.‍$106 million will be fully applied to debt reduction.  Full Article

Fugro to commence site investigation contract work for NuGen​
Tuesday, 15 Dec 2015 07:00pm EST 

Fugro NV:Fugro to commence site investigation contract work for NuGen​.‍Majority of offshore element is scheduled to begin in spring 2016​.‍Onshore investigation continues until summer 2016.  Full Article

Fugro ‍secures 500 mln euro credit facility
Thursday, 10 Dec 2015 01:00am EST 

Fugro NV:Reaches agreement with its lenders on refinancing of its current revolving credit facility.‍Secures long-term financing with new 5-year credit facility​.‍New 5-year syndicated revolving facility of 500 million euros replaces current credit facility of 775 million​ euros.  Full Article

Fugro awarded Blue Stream pipeline inspection contract
Monday, 12 Oct 2015 04:00am EDT 

Fugro NV:Blue Stream pipeline inspection contract awarded to Fugro.Fugro has been awarded a contract by Blue Stream Pipeline Company B.V. for the provision of survey support vessels and associated survey services to perform the 2015 external pipeline inspection for the offshore, shore approach, and dry section components of the Blue Stream Pipeline System.  Full Article

Fugro awarded $13 million extension of contract by PEMEX
Tuesday, 6 Oct 2015 04:00am EDT 

Fugro NV:Says to have been awarded extension of geophysical and geotechnical contract by PEMEX.Value of contract extension is about $13 million.  Full Article

Marine engineer Fugro retrenches in face of oil and gas rout

AMSTERDAM, April 29 Marine engineer Fugro said it was stepping up cost control efforts, cutting a further 600 jobs over coming quarters, as its oil and gas industry clients delayed contract awards and exploration budgets continued to shrink.