Petrofac says hat as a result of their success in securing new contracts during the year and the continued good progress across most of our businesses, the Board is confident that, in the absence of unforeseen circumstances, the group will deliver profit after tax for the year of at least US$330 million, which represents year-on-year growth of around 25%.

In Engineering & Construction, our strong partnerships, proven execution track record and long-established presence in the Middle East and North African markets has helped us achieve a record order intake during the year of over US$6.0 billion. Initial progress on these new awards has been in line with our expectations and we have continued to deliver good operational performance across our broader portfolio of projects. We have a healthy pipeline of bidding prospects for 2010.

As anticipated earlier in the year, we have seen an increase in tendering activity in Offshore Engineering & Operations and we have been successful in securing a number of new contract awards and extensions, including two significant contract wins in the UK North Sea with BP and Apache. We are currently actively bidding work in both the UK and internationally.

In Engineering, Training Services and Production Solutions, activity levels throughout the year have generally been subdued, although we are anticipating a modest improvement as we move into 2010. On our contract with Dubai Petroleum, within Production Solutions, we have delivered a particularly good operational performance.

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