Fugro withdraws 2020 guidance as COVID-19 hits projects

6/4/20: In a statement the company said, "Despite strong efforts to keep operations going, some projects cannot be executed as originally planned due to increasing travel restrictions and country lockdowns, which are impacting the business, particularly in the Europe-Africa region. The impact of the virus is compounded by oil and gas companies’ recently announced spending cuts due to the sharp decline in the oil price. At the same time, offshore wind is anticipated to show continued growth, though somewhat less than assumed at the start of this year."

Revised guidance will be issued on 30/4/20.

Read the full statement here.


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