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The total capital and operational expenditure of exploration and production companies (E&Ps) is now likely to be cut by $100 billion in 2020 and another $150 billion in 2021 if oil prices remain at a $30 level, a Rystad Energy impact analysis revealed – a development that will heavily impact service company revenues, driving some out of the market.

iXblue, a major provider of advanced navigation, subsea positioning and imagery solutions dedicated to the Offshore market, announces the launch of its new SeapiX-C solid-state 3D multibeam sonar. Providing increased efficiency and safety, this new sonar offers real-time georeferenced static bathymetry capabilities to marine works operators for instant monitoring and decision-making.

In light of the dramatic fall in commodity prices, Marathon Oil (NYSE: MRO) has announced an immediate capital spending reduction of at least $500 million relative to its previously communicated 2020 capital spending budget of $2.4 billion. The revised capital spending budget of $1.9 billion or less represents an approximate 30% reduction in comparison to actual 2019 capital spending.

Global Offshore, a leading provider of cable installation, repair and trenching services to the offshore renewables, utilities and oil & gas markets and part of the Global Marine Group, has announced the contract award for cable installation and burial at the Kincardine Floating Offshore Wind Farm for Spanish developer and construction company Grupo Cobra.

AecorLink announces that the company has been granted a new patent on its company's communication platform. The patented technology will further enhance the capacity for shore-ship communication via microwave links. The salient advantage with the patent allows the networks to further improve the capability providing high-speed and stable data connections.

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