French energy service giant Technip said today a rise in North Sea subsea activity had contributed to revenue growth across the group.
The company said the North Sea market remained active and that it had taken on increasingly large and complex projects last year.
Technip – which employs more than 26,000 people worldwide, including 800-plus at Westhill – said group revenues in 2011 were £5.7billion, up from £5billion in the previous year. The figure for last year included £2.5billion of subsea revenue, compared with £2.3billion in 2010.
Operating income in 2011 was up 14.4% to £588.8million, while pre-tax income was up 19.6% to £590.2million.
Since the turn of the year Technip has won its largest contract to date in UK waters – a £111million deal with Nexen Petroleum for work on the Golden Eagle development – and chairman and chief executive Thierry Pilenko said mature regions would provide further work this year.
He said: “Looking ahead to 2012, our clients show confidence in oil and gas prices and continue investing to meet challenging production targets.
“Success in their exploration programmes, notably in apparently mature areas, is stimulating fast-track offshore developments and requirements for new technology solutions.”