Geoscience, Service Companies Continue Suffering

Norway’s Dolphin Group said on Thursday it could soon file for insolvent liquidation, explaining it has not yet reached an agreement with its main stakeholders.

‘Without a firm solution accepted by the Group’s main stakeholders, and in light of its financial situation, the board of directors of the Company is of the opinion that the Group’s current business cannot be continued as it is currently carried out. The Board of Directors has on such basis resolved to search for alternative solutions’ the geoscience firm wrote in a statement.

Dolphin Group is trying to find a solution to restructure its debt and capital structure.

Also on Thursday, France’s Technip wrote on its website that the company is not involved in discussions for any possible strategic transaction, dismissing reports saying the French oilfield services company is exploring a sale and it is holding talks with US-headquartered FMC Technologies.