Service sector spending on carbon capture and storage (CCS) developments is set to skyrocket this decade, quadrupling between 2022-25, Rystad Energy research suggests.
Subsea 7 was giving little away with an announcement that it had been awarded a major offshore contract worth up to $750million, but declined to give details.
Well services firm Archer reported a net loss of $244.1 million in its fourth quarter 2015 results as it caught the blowback from impairments valued at $177.5million.
UK-based oilfield service companies have come through the financial turmoil of the past few years but have seen their margins squeezed, according to a report on the state of the sector published today.
