So this is first durability is here to stay and we are talking about years. And I think the targets are expanding anywhere from to 2027 to 2030, depending on the country, depending on the ambition they have on sustained production. So second is that what is quite unique and this is a combination of offshore, onshore, oil, gas, conventional and unconventional. I think you have the Qatar conventional gas development. It is only set to further increase. You have the unconventional development in Saudi and in UAE, you have the other gas development in the region, including the East Med that has a fundamental potential of East Med gas development. And then you have the mix of offshore, onshore that I think is quite unique, particularly on the rebound on the shallow water increase of activity you have seen.
So that is unique and that gives us a unique opportunity to outperform and to use Fit-for-Basin to use our local content, use our customer centricity, and engagement that we have in the region, and to build on those market positions to really benefit and we are poised to certainly have record revenue in Middle East in — during this cycle and eclipse previous 2014 peak by margin.
David Anderson: And how are the contracts different, before — last cycle I don’t think we really talked about integrated drilling contracts or kind of LSTK contracts. I think it was mostly discrete services. So is that different today and how does that change sort of your business, I think, is there more opportunity
Olivier Le Peuch: I think
David Anderson: is some more risk there as well?
Olivier Le Peuch: I think that what would characterize this cycle is performance. It’s all about performance. And I think our ability to perform in this integrated contract, and as you have seen, what we have shared during this press release on the Jafurah contract and been able to up our performance to peer some of the North America performance and performance will dictate market allocation — market share allocation and will dictate technology adoption. So our ability to Fit-for-Basin, our technology like we did in Qatar and other regions and local content like we are doing Saudi and other regions, I think, is giving us opportunity to earn this contract and to use a pricing premium for this technology adoption to deploy Digital and you have seen the announcement we made a few months back with — in the sustainability platform with Saudi Aramco and more announcements will come.
So we are building our future in Middle East in engines, and we are building on the performance in execution. Technology adoption and differentiation and LSTK, while being a part of the landscape of the way we operate is not the largest piece of our business in the Middle East.
David Anderson: Thank you. And just a secondary question — second question just a follow-up on what James was asking about on the offshore side. Obviously, you feel confident in the duration, we are seeing this kind of shallow water business, which you didn’t really have in the Middle East before. But thinking about the deepwater side, we are seeing rig contracting picking up materially. Petrobras, it seems to be cornering the market on deepwater rigs. So I guess my question is sort of similar to my other question, how is this different this time. Is the customer base changing much from what you see, is it going to be the same big players that we saw the last time and so is that changing much? And I am just sort of thinking that should we be expecting to see a bit more of a pronounced inflection in the second half of the year as deepwater comes on?
