THE boss of international oil and gas service contractor PSN said yesterday that it remained cautiously optimistic for the year ahead.
Chief executive Bob Keiller was commenting as the Aberdeen company issued an operational update for last year.
He said: “2008 was another year of positive growth, especially by our international business.
“We have started 2009 busier than ever and have a record number of contract bids ongoing, most of which are again for international customers.
“The reduction in the oil price has seen the focus for many of our customers shift towards efficiency and cost reduction. Our services in these areas are likely to increase in 2009.
“With our order book in excess of $2billion (£1.42billion) and a record amount of new contract opportunities, we remain cautiously optimistic for the year ahead as we approach the third birthday of our management buyout from Halliburton.”
PSN said it had seen double-digit percentage revenue and Ebitda (earnings before interest, taxes, depreciation and amortisation) growth in 2008.
Revenue for 2007 was £857million, while Ebitda was £49.5million.
PSN employs more than 8,500 people in 26 countries.