I'm under no illusions that this will be a difficult year Carl Fogarty

The former champion, who started his team from scratch, made good progress last season, with two pole positions and two podium finishes.

"Obviously, I would love to be winning every race but I have to be realistic," said the British former world champion.

"If we can compete with the top 10 riders at each round then I'd have to look on that as a good achievement."

Fogarty said he did not know whether the improvements to the team's FP1 bike would be enough to challenge the likes of Honda, Ducati and Yamaha for honours.

"Our bike is sure to be faster and hopefully more reliable but the beauty of this season's competition is that nobody really knows how the opposition is going to do," he added.

"Our fortunes depend on whether we have improved more than the opposition has during the winter.

"I'm under no illusions that this will be a difficult year but I am also confident that a new-look team will be able to maintain the progress that we have made over our first two years."

The Foggy Petronas team finished third in the constructors' championship in the last campaign.

Fogarty also has two new riders for this season, Garry McCoy and Steve Martin of Australia, who finished sixth and seventh place in the drivers' championship.