Half Year 2019 Petrofac Ltd Trading Statement Call Transcript
Hello, and welcome to the Petrofac trading update analyst call. (Operator Instructions) And just to remind you, this conference call is being recorded.
Today, I am pleased to present Alastair Cochran, CFO. Please begin your meeting.
Good morning, everyone. Thank you for joining our regular preclose trading update call. I will make some brief comments on today's statement before opening the line for questions.
Trading is in line with our prior guidance, and I expect to report solid results for the 6-month ended June 2019.
New order intake of $1.7 billion year-to-date is modestly lower than the comparable prior period and reflects our recent challenges in Saudi Arabia and Iraq. Notwithstanding this, we continue to maintain excellent client relationships in all our markets.
Furthermore, we are busy tendering on around $15 billion of projects expected to award in the second half of this year. These are primarily located in the UAE, the U.K., India, Algeria,
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