Losing 'painful' for SBM

摘要

SBM insisted it will not cut prices despite a recent drought in contract awards and said it has put aside US $240m to meet potential liabilities from the investigation into payments made to government officials in Angola and Equatorial Guinea. Chief Executive Officer Bruno Cha-bas said that the market will slow down for up to 36 months as operators take stock and learn from the first surge of deepwater developments. SBM expects 25 projects to be awarded this year and next although: '"We also see that projects are being carried away from one year to the next much more now than in the past. Today, with certain projects being tendered, four projects are being carried from 2013 to 2014. In fact in some cases from 2012 to 2014 and we expect the trend to still accelerate in 2015."