Wärtsilä Norway AS is a wholly owned subsidiary of Wärtsilä Corporation in Finland. Wärtsilä enhances the business of its customers by providing them with complete lifecycle power solutions. When creating better and environmentally compatible technologies, Wärtsilä focuses on the marine and energy markets with products and solutions as well as services. Through innovative products and services, Wärtsilä sets out to be the most valued business partner of all its customers. This is achieved by the dedication of more than 18,000 professionals manning 160 Wärtsilä locations in 70 countries around the world.
Thorvik International Consulting AS provides services for European energy and environment industries, in recruitment, strategy and government affairs work.
Maersk Oil is aiming to grow by exploration and new business activities in Norway and is looking for a skilled and committed geoscientist (5 to 12 years of experience) for the office in Stavanger, Norway.
Thorvik International Consulting AS provides services for European energy and environment industries, in recruitment, strategy and government affairs work.
A PROPOSED merger between TGS-Nopec and Wavefield Inseis could fall apart if the findings from an independent review of TGS’ latest quarterly results justify such a move, writes Iain Esau.
The merger of the two players was proceeding smoothly until TGS unveiled a surprise profit warning in its third-quarter results last month, which saw both its own share price plunge and, by association, caused Wavefield’s stock prices to plummet.
The profits warning “cost Wavefield shareholders a lot of money”, said a Norwegian analyst, who did not wish to be named.
As a result, two of Wavefield’s shareholders, Everest Capital and Audley Capital, which hold 8% of the company’s stock, called for an independent review of TGS’ results to see if the company had any idea about the earnings short fall.
PricewaterhouseCoopers (PWC) will undertake this review and will report its findings to both companies before an extraordinary general meeting of Wavefield shareholders on 19 November to discuss the planned merger.
TGS did not co-operate with Wavefield in appointing the third party reviewer or in defining its mandate and workscope, while Wavefield’s board said it had no detailed information on the review’s scope.
The analyst said PWC’s findings could result in a potential instruction to Wavefield’s board to break the merger, although he stressed that the situation is legally complex.
Both companies’ boards have backed the merger but terms and conditions have yet to be agreed.