An ocean technology company based out of St. John’s is asking the federal government for incentives to help the province’s offshore oil and gas industry.
PanGeo Subsea provides innovative solutions to the offshore oil and gas industry in Newfoundland and Labrador.
CEO Moya Cahill says the current economic crisis has impacted the company’s overall revenue and operations.
Before the pandemic, Cahill says the company was working on solutions for mitigating risks for the offshore infrastructure installations.
She says the industry needs help – especially so the thousands of people that have been laid off can return to work.
