There are multiple upstream and downstream opportunities in Latin America, according to French oil and gas services company Technip's CEO Thierry Pilenko."There are quite a number of opportunities both upstream and downstream but the timing of the final investment decision is much more difficult to forecast in countries like Venezuela, Chile or Colombia," Pilenko said in a presentation.
The executive highlighted Technip's push to increase its footprint in Brazil for work from non pre-salt and pre-salt areas. "We see Brazil on a strong path."
Technip reported that its Americas backlog at end-June represented 18% of the group's 8.26bn-euro (US$10.7bn) backlog. The bulk of the backlog is from the Middle East (37%), followed by Europe, Russia and Central Asia (21%), the Americas, Africa (16%) and Asia Pacific (8%).
This geographic balance will be maintained through year-end, added company CFO Julian Waldron.
At end-March, Technip's Americas backlog accounted for 18.1% of the company's 8.02bn-euro backlog.
The firm's Americas revenue in the second quarter fell 20.4% to 347mn euros compared with 2Q09. Companywide revenue reached 1.49bn euros.
By David Casallas
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