前景：
预计2018年油价将保持稳定，有助于提高石油天然气行业的盈利可见度，他们预计今年的勘探和生产活动将增加。对于FPO业务，他们预计将于2018年推出于2017年推迟的新项目。在2018，subsea construction（“SC”）业务将忙于完成其在里海的担保工作。他们预计在内部重组，成本合理化，以及过去12个月内新的大型项目的最终验收的背景下，阿玛达的表现将会更加稳定。

觉得不错就SHARE 出去吧。

James Ng

In FY17, EBITDA of RM1506.9m, an increase of RM1036.4m compared to FY16 was mainly due to higher contribution from the Floating Production and Operation (FPO) segment due to Armada Olombendo 'floating, production, storage, and offloading vessel' (FPSO), Armada LNG Mediterrana floating storage unit (FSU), gain on disposal of vessels and recognition of supplementary payments for the Armada Kraken FPSO project in FY16. Results from the FPO segment increased to RM748.6m for FY17 as compared RM97.8m for FY16 mainly due to higher contribution from Armada Olombendo FPSO, Armada LNG Mediterrana FSU and recognition of supplementary payments for the Armada Kraken FPSO in FY16. In respect of the Offshore Marine Services (OMS) segment, results improved to a profit of RM403.2m for FY17 as compared RM170.7m for FY16 mainly due to higher contribution from the LukOil project. In FY17, total profit of RM376.4m and total profit attributable to the Owners of the Company of RM352.2m, is an increase of RM2381.4m and RM2319.9m respectively compared to FY16, as the FY16 earnings were negatively impacted by a non-cash impairment charge of RM1738m for FPSO and OMS multipurpose construction vessels.

Prospects:
Oil prices are forecast to be more stable over 2018, helping to provide more visibility for the oil and gas industry going forward, and they do expect to see an increase in exploration and production activities over the course of the year. For the FPO business, they expect to see new projects, which were postponed in 2017, to be awarded in 2018. The subsea construction (“SC”) business will be busy over 2018 completing its secured work load in the Caspian Sea. Over the course of 2018, they expect to see a more stable performance from the Group on the back of the internal reorganization and cost rationalization, as well as the final acceptance of the new large projects, carried out over the last 12 months.

If you think this post is beneficial, please share it.

James Ng