Fugro pivots to oil and gas after offshore wind market collapses

In response, it is shifting away from renewables, with oil and gas projects representing an increasing part of its order backlog.

"We do not expect wind to disappear totally because this market will continue. Obviously, not necessarily in the United States, so to say, but in the other areas of the world, it will probably take another year at least to stabilise and to return," Heine said.