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SBM Offshore first-quarter revenues slip on weaker turnkey business

By Reuters

(Reuters) – Oil and gas services firm SBM Offshore on Wednesday reported a drop in first-quarter revenues, mainly due to a lower contribution from its turnkey business.

The Dutch company, which supplies floating oil and gas production vessels, posted revenues of $513 million in the quarter, down from $607 million a year earlier.

(Reporting by Juliette Portala. Editing by Mark Potter)