Seismic survey player TGS-Nopec is forecasting a fall in its investments by more than 50% this year.
Multi-client spending will drop to $220m in 2016 as a result of substantially lower charter rates and reduced activity by oil companies, it said.
The Oslo-listed vessel charterer last month announced it was booking a $150m impairment on its survey book, and looking to shed 130 jobs.
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