CEO: Another Year of Activity Decline in 2017

CEO: Another Year of Activity Decline in 2017
Another year of decline in oil and gas activity is expected in 2017, according to Amec Foster Wheeler's CEO Jonathan Lewis.

Another year of decline in oil and gas activity is expected in 2017, according to Amec Foster Wheeler’s CEO Jonathan Lewis.

Despite the prediction, however, Lewis has vowed that Amec will continue to make ‘significant progress’ in 2017.

“This year, we will continue to leverage the outstanding technical expertise of our people to best serve our customers and deliver projects safely across all the markets in which we operate,” Lewis said in a company statement.

“This and the improvements we have made to the business will ensure we continue to make significant progress in 2017,” he added.

Last month, Wood Group agreed to buy rival Amec Foster Wheeler for 2.2 billion pounds ($2.7 billion), seeking rewards from the fast-growing U.S. shale energy sector.

An Amec Foster Wheeler shareholder vote on the offer from Wood Group is expected in June, according to an Amec statement.



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