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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

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* 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: