TechnipFMC PLCs chief financial officer Maryann Mannen said the companys surface business in the Middle East markets was beginning to see stabilising price pressures and improving volumes after more than two years
Energy services companies like TechnipFMC have struggled with orders as producers have slashed budgets to deal with a low oil price environment.
The company, created by a merger of Technip and FMC Technologies, has cut at least 3,000 jobs in recent months.
However, oil prices have climbed from record lows on the back of production cuts from OPEC producers.
Mannen also said that the company's integrated contracting model for engineering contracts was seeing better reception among independent producers.
The integrated contracting model includes newer technologies which can help customers cut costs and time to first oil.
Oil major Statoil became one of the first producers to opt for the company's integrated offering when it awarded the company a contract in the Norwegian sea late last year.
The oilfield services company executive expects capital expenditure to rise only slightly in 2018, underscoring an oil market which remains oversupplied.
Mannen said on a webcast that she also expects the company to be cash positive for 2018.
