Norwegian offshore survey specialist Shearwater GeoServices has received project termination notices for two contracts in Asia Pacific.
The first one includes a short project for Woodside in Australia and the second covers a survey for Reliance in India. The projects were terminated as per client’s rights within the respective contracts.
In the past month, many offshore players have suspended offshore exploration projects with plans to cut expenditure as a result of the coronavirus outbreak and sustained low oil prices.
