Olivier Le Peuch: No. I think, New Energy, I am very pleased with the progress. I think we crystallized our strategy very much in the last six months. I think we have been commenting on it extensively during the Capital Market Day to outline the five selected domains in which we are investing in technology. We are investing in partnership, we are investing into equity and critical partners to accelerate our go-to-market, to accelerate our success. So continue to make progress on each of these five domains and we have seen some announcements relating to CCS, which I believe has a lot of momentum and we are involved into dozens of projects this year and we have crystallized and materialized some partnerships, including the partnership with Linde for blue ammonia, blue hydrogen and gas processing and we have been investing in RTI as well for carbon capture.
And we continue to make progress and you have seen some announcement on Geoenergy with Celsius, which is a very critical technology that is being assessed and being recognized in Europe as something that could really have an impact as a new technology, as a new domain that could transform a little bit the way the heating and cooling of buildings and cities are done. So we have a great long-term outlook on this and more will come on this. But in general, we are making progress on each of these domains, be it in pilots, be it in early commercial contracts, be it in technology milestones. We will continue to inform you on these milestones so that you can judge the progress and continue to assess the potential and then keep us — we will keep you informed on our journey towards 2030 and the mission we have to the next decade.
So I am still positive and encouraged — continue be encouraged with what the feedback we are getting for our partners and from our customers.
Kurt Hallead: Sounds great. No. I appreciate the color. Thanks, Olivier.
Olivier Le Peuch: Thank you. Thank you very much. So I believe at this time to conclude.
Operator: And ladies and gentlemen
Olivier Le Peuch: So ladies and gentlemen, as we conclude today’s call, I would like to leave you with four key takeaways. First, our 2022 results represent another positive step in our financial and operational performance journey. Financially, we realized broad revenue growth and margin expansion, closed the fourth quarter with year-on-year EBITDA margin expansion ahead of our initial guidance and further reduced net debt. Operationally, the year was transformative, as we executed our strategy across our 3 engines of growth and communicated our new brand purpose and identity. This firmly positions SLB to be the leader in the energy sector across multiple opportunities and time horizons. Second, the macroeconomic environment remains highly supportive of a resilient upcycle in both oil and gas and low carbon energy solutions.
This is fundamentally driven by demand growth amidst very tight supply and further boosted by the prioritization of energy security and decarbonization. These market conditions will continue to support steady global oil and gas upstream investment for years to come and will prompt additional investments in low carbon energy solutions for a balanced planet. Third, the oil and gas industry is entering a new phase in the upcycle marked by the inflection in the Middle East and the strengthening of offshore activity. Taken together, this signals the onset of a new growth pattern internationally. These dynamics are closely aligned with our strengths and will enable us to benefit from a favorable pricing environment and further technology adoption.
