It has been a good year for the group, with a successful return in Brazil and a new award in Guyana, increasing the backlog by $5.9bn. This good visibility (mainly on the lease & operate portfolio) allows for a dividend increase. While acknowledging that oil staying below $60/bbl in 2020 would slowdown the project activity, management kept a positive outlook, pointing at the sub $50/bbl breakeven prices in deepwater.
