BRIEF-Sembcorp Marine Says Losses Are Expected In 2H2022 Similar In Range To 1H2022
Nov 15 (Reuters) - Sembcorp Marine Ltd:
* LOSSES ARE EXPECTED IN 2H2022 SIMILAR IN RANGE TO 1H2022
* FROM START OF FY2022, HAD TOTAL OF 21 PROJECTS UNDER EXECUTION WITH 12 PROJECTS SCHEDULED FOR COMPLETION, DELIVERY IN FY2022
* CO WILL RETAIN ITS LISTING STATUS ON MAINBOARD OF SINGAPORE EXCHANGE AND DIRECTLY ISSUE NEW SEMBCORP MARINE SHARES TO KEPPEL
* THE GROUP HAS THREE MORE PROJECTS SCHEDULED FOR DELIVERY BY THE END OF THE YEAR
* OVERALL INDUSTRY OUTLOOK ACROSS OIL & GAS AND OFFSHORE RENEWABLES SECTORS CONTINUES TO IMPROVE
* OVERALL BUSINESS VOLUMES ARE EXPECTED TO PICK UP IN FY2023
* NEWBUILD FPSO WILL ADD A PRODUCTION CAPACITY OF 225,000 BARRELS OF OIL PER DAY
* ACTIVELY WORKING ON CONVERTING ITS ORDERS PIPELINE INTO FURTHER FIRM CONTRACTS
* NEWBUILD FPSO WILL ADD 12 MILLION CUBIC METRES OF GAS PROCESSING PER DAY
* CONTINUES TO SEE IMPROVEMENT IN ORDERS VISIBILITY, UNDERPINNED BY HIGH OIL AND GAS PRICES
* A FURTHER NINE PROJECTS WILL BE PROGRESSIVELY DELIVERED FROM 2023 TO 2026
* WORK ON SECOND FLNG LIQUEFACTION FACILITY EXPECTED TO BE CONTRACTED THROUGH FURTHER WORK ENGAGEMENT CONTRACTS AT A LATER DATE
* GROUP ANTICIPATES ITS OPERATING CASH FLOWS AND OVERALL CASH BALANCE TO CONTINUE TO STABILISE
* GROUP EXPECTS TO HAVE NECESSARY LIQUIDITY TO FUND ITS OPERATIONS FOR FORESEEABLE FUTURE Source text for Eikon: Further company coverage: