SBM Offshore revealed that a contracted diver died during pipeline installation work off Angola in December.
The Dutch floater giant revealed the fatality in its full-year results announcement on Thursday.
“The company regrets to report that a contracted diver was fatally injured during installation activities of a pipeline section replacement offshore Angola in December 2019,” it said.
“SBM Offshore will continue to raise awareness and implement improvements in its safety management systems.”
No further details were given of the incident, but SBM is due to host a conference call on Thursday morning to discuss its results.
The company posted a rise in both revenue and profit last year, with the turnkey business unit the star performer.
Directional revenues, which assumes all lease contracts are classified as operating leases and all vessel investees are proportionally consolidated, were $2.17 billion last year, as against $1.7 billion a year earlier.
Revenues from the turnkey segment were up 111% to $856 million from $406 million, while lease and operate revenues were stable at $1.32 billion as compared with $1.3 billion.
Underlying directional earnings before interest, tax, depreciation and amortisation was $832 million as against $784 million.
Underlying directional profit was $171 million a compared with $113 million, a rise of 51%.
Looking ahead, directional revenue guidance for this year is more than $2.3 billion, with around $1.6 billion from lease and operate and around $700 million from turnkey.
Directional Ebitda guidance is around $900 million.
SBM has also proposed a 100% increase in dividend payments and reaffirmed its commitment to gas and renewable energy solutions, announcing an ambition of having 25% of total revenues from gas and renewables by 2030.
SBM also revealed that it is proposing that former Shell upstream director Andy Brown be named a member of its supervisory board, along with Jaap van Wiechen.