The offshore wind sector continues to provide Fugro with “good opportunities”, despite the company experiencing difficulties in the oil and gas industries, according to the company’s third quarter results.
Offshore revenue in the geotechnical division dropped 18.2% to €83.9m, but, the company said, the margin was “significantly higher compared to the same period last year” on the back of vessel utilisation on wind farms as well as other factors.
For example, Fugro received a geotechnical investigation contract from the Dutch Enterprise Agency for the Borssele wind farm area.
The company’s subsea services division also secured new contracts during the quarter, including a two-year cable installation and burial project at the Eon on the Rampion offshore wind farm starting in the summer of 2016.
Image: Fugro Commander (Fugro)
