Outlook and Guidance

Management’s expectations for order intake in 2017 remain unchanged, aligned with an outlook for the industry where recovery is expected to be gradual as clients remain cautious regarding investment in their development programs. At the same time, productive client discussions continue to take place to make deep water projects competitive in today’s oil price environment. A positive medium to long-term outlook is maintained as deep water offshore is expected to remain an important element in the energy supply of the future.

The Company is providing 2017 Directional revenue guidance of around US$ 1.7 billion, with around US$ 1.5 billion from Lease and Operate and around US$ 200 million from Turnkey. 2017 Directional EBITDA is guided at around US$ 750 million.