Dolphin Geo’s UK unit continues ‘business as usual’ despite bankruptcy in Norway

Dolphin's UK unit continues 'business as usual' despitePressured by low oil prices, cuts in exploration, low dayrates, and limited prospects for new contracts, Norwegian Dolphin Group, together with its seismic acquisition subsidiary Dolphin Geophysical AS, on Monday filed for bankruptcy.

However, on Wednesday, the company said its UK unit continues business as usual: “The UK processing and multi-client operations of Dolphin Geophysical Ltd continue to operate as normal, despite the Norwegian entities of Dolphin Group ASA together with its subsidiary Dolphin Geophysical AS having filed for bankruptcy on Monday 14 December.”

Dolphin said that the UK entity Dolphin Geophysical Ltd is not a part of the bankruptcy estate. The Singapore and US businesses are also continuing to operate.

Backlog stretches into 2Q 2016

The ongoing processing contracts in the UK are continuing and the banks are supporting a ‘business as usual’ approach, paying staff salaries and maintaining operations. Multi-client sales are also continuing as normal, the company said in a statement.

Gareth Williams, Chief Geophysicist, said: “We will not only continue to fulfill our commitment under existing contracts but will also continue to bid on new projects as well. Our backlog currently stretches well into the second half of 2016 and we will continue to aggressively target suitable additional work.”

Share this article

Follow Offshore Energy Today

Events>

<< May 2018 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

2nd AFRICA OIL & GAS LOCAL CONTENT CONFERENCE AND EXHIBITION

The 2018 programme has been created around the outcomes and recommendations of the previous, highly successful event, and will focus…

read more >

25th Anniversary International Caspian Oil & Gas Conference

In 2018, the largest oil and gas event in the Caspian Region – the Caspian Oil & Gas Exhibition and Conference Incorporating Refining…

read more >

7th Oil and Gas Kenya 2018 Products & Eqpt. Exhibition in Africa

The 07th Oil & Gas Africa – Int’l Trade Exhibition, 29 – 31 May, 2018, is a hub for key players in the oil and gas…

read more >

FPSO Brazil Congress 2018

This is the first and only conference dedicated to the entire lifecycle of the Brazilian FPSO industry…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply