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Despite concerns that Covid-19 could drive down discovered volumes to their lowest levels in decades, exploration activity has been resilient this year. Found resources already exceed 8 billion barrels of oil equivalent (boe) and are projected to settle at around 10 billion boe by year-end, a Rystad Energy analysis reveals.

McDermott International, Ltd has announced that it has secured approximately $560 million in new capital through a series of transactions expected to close by the end of the year. McDermott has secured commitments from certain existing lenders and shareholders (the "Investors") for these transactions, as well as approval from a steering committee comprised of certain existing letter of credit and term loan lenders (the "Steering Committee").

Svitzer and Caterpillar has signed a Global Services Agreement designed to increase vessel up-time, drive service efficiency, and extend Svitzer’s overall service experience with Caterpillar. As the world’s largest tug operator, Svitzer provides towage and sustainable marine solutions to customers in 30-plus countries across four regions.

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