The FPSO specialist saw net income more than double to $40.4m versus the $17.7m seen twelve months earlier.

Operating revenue showed a year-on-year increase of 7% to $248.5m, while operating expenses rose by over 23% to $148m.

However, the company saw a ten-fold gain in the share of profits from associates and joint ventures to $19.8m.

It also reported a 33% decline in net financial expenses to $14.3,