Market info

TGS plans for lower activity in 2016


TGS said its operating revenues were down by more than 50% in the final quarter of last year compared with the same time in 2014. The seismic company said it also expects its full year revenues to be down by one third, with weak market conditions expected to continue into 2016.

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TGS to reduce headcount by 130


Seismic specialist TGS said it will be reducing its global headcount by up to 130 jobs. The Norwegian company said the move has been made in a bid to improve efficiency and competitiveness during challenging market conditions.