Petrofac Limited reaffirmed 2019 revenue guidance. Group revenue for the full year is expected to be approximately USD 5.5 billion. Company continue to expect E&C results for the full year to be in line with management guidance, with revenue around USD 4.4 billion and net margin at the low end of guidance. EPS revenue is expected to be around USD 0.9 billion for the full year and net margin in the middle of guidance range. IES is expected to report a modest profit reflecting average realised oil prices in the year. Looking further forward, company expect a decrease in Group revenue in 2020 reflecting low new order intake in recent years. Company currently have USD 4.0 billion of secured revenue for 2020, comprising USD 3.4 billion in E&C and USD 0.6 billion in EPS. As previously guided, net margins in E&C are expected to decline in 2020 reflecting a higher contribution from contract awards in lower margin markets and a USD 30 million investment in maintaining bench strength and technical capability in 2020. This investment ensures Petrofac can capitalise on the improving market outlook and best positions the Group for a recovery in new orders in 2020 and growth thereafter.