UPDATE 1-Dutch SBM Offshore sticks to revenue forecast after settlement
(Adds ceo comments, more detail)
AMSTERDAM Nov 13 (Reuters) - SBM Offshore NV, the Dutch oil platform leasing firm, said on Thursday it would stick to its 2014 revenue outlook after settling a Dutch bribery probe, even though conditions in the oil and gas business were challenging in the short-term.
SBM Offshore settled a long-running bribery investigation with Dutch authorities on Wednesday for $240 million (193 million euros) and said U.S. authorities had dropped their probe.
The settlement means that SBM Offshore will not be prosecuted in the Netherlands, but the individuals involved could face charges in other countries.
Brazil's comptroller general's office said late Wednesday that it too was considering penalising SBM Offshore, including a ban on futures contracts with state-run oil company Petroleo Brasileiro SA. It said it could be lenient because the company had cooperated with authorities.
Chief executive Bruno Chabas said in a statement: "We are well underway to delivering 2014 revenue as we guided to at the beginning of this year."
"At the same time, we cannot ignore the slowdown visible in the entire oil and gas sector, which has affected order intake in the short term."
In the third quarter, SBM's new order intake plunged 80 percent to $2.1 billion.
But Chabas said based on the ongoing high tendering activities, the platform lease and operate backlog remained near historical highs.
The company said its net debt rose 36 percent to $3.3 billion. It reiterated that it expects 2014 forward-looking revenue on projects not yet in the books of $3.3 billion, of which $2.3 billion is expected in the turnkey business and $1 billion in the lease and operate area.
SBM Offshore's year-to-date 2014 forward-looking revenue was flat at $2.52 billion versus $2.51 billion in the year-ago period. (1 euro = 1.2444 US dollar) (Reporting by Anthony Deutsch; Editing by Biju Dwarakanath and Jane Merriman)
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