French oil services group Technip said today it had record orders during the first quarter of 2012 and there was still more to come.
It said its order backlog reached £10.1billion in the first quarter, of which £4.5billion was in the group’s subsea unit.
Among the subsea orders was a £491million subsea contract in the UK North Sea from BP, its largest contract to date.
Revenue rose nearly 23% to £1.44billion and net income rose 7.6% to £92million, compared with the same period last year, helped by the oil industry’s eagerness to bring new reserves into production.
Technip said sales grew to between £6.2billion and £6.5billion in the latest period, up from £5.5billion a year ago.