EuropeOffshore

Technip raises full year forecast on back of growing subsea deals

Surprising news in the otherwise moribund offshore sector was contained in today’s earnings report from Technip

The French offshore services firm, which saw net income grow 12.4% year-on-year to EUR184m in the third quarter, noted that in the subsea sector it was seeing “pockets of growing demand”, for example greenfield in the North Sea, and sustained interest for long tiebacks and field extensions.

On the back of this, Technip has, unlike almost every other offshore-related firm in the world, decided to raise its full year financial forecast.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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