Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (April 04 – April 10).
FMC Technologies is taking legal action against its four former Norwegian employees and their company Optime Subsea Services, established in alliance with subsea installation player DeepOcean last year.
Reportedly FMC claims that Optime’s founders have used FMC knowhow and technology for inventions that they have patents pending.
Workforce adjustment comes as a result of activity decline in the oil & gas industry and the company’s efforts to position its business in response to market conditions.
The company will utilize one of its construction support vessels for the project, due to start in Q2 of 2016 and be completed by the end of 2016.
As previously announced, each Cameron stockholder is entitled to receive 0.716 shares of Schlumberger common stock and $14.44 in cash, in exchange for each Cameron share.
Schlumberger has issued approximately 138 million shares pursuant to the merger.
According to Norwegian Aftenbladet.no the company informed the employees about the downsizing earlier this week, and that specifically ROV division will be most affected by this decision.