Technip Finalizes Two Agreements with Rostec to Address the Subsea and
Onshore Markets in Russia
PARIS -- March 1, 2013
Technip (Paris:TEC) (ISIN:FR0000131708) announces that it has signed two
agreements with State Corporation Russian Technologies (Rostec) during the
official meeting between François Hollande, President of the French Republic,
and Vladimir Putin, President of the Russian Federation, held yesterday in
Moscow, Russia. The agreements aim at manufacturing flexible pipes and
umbilicals in Russia, for the Arctic region and the Black Sea oil fields, as
well as at the construction and renovation of refining and petrochemical units
Technip and RT-Chemcomposite Holding Company, a Rostec subsidiary, signed a
memorandum of understanding to express their intention to form a joint-venture
(JV) company for subsea activities in Russia. Under the terms of this
memorandum, the joint venture is a cooperation in the production of equipment
for the oil and gas industry and in particular flexible composite pipes based
on Technip’s technology. It allows to produce oil and gas at the depth of down
to 3,000 meters and provides for speedy pipe laying operations. They will also
intend to evaluate the possibility of establishing a research and development
Moreover, another agreement was executed between Technip and Rustechexport,
another company operating under the umbrella of Rostec, whereby the parties
set forth the main terms and conditions for a jointly-owned company they
intend to establish to provide engineering, design, and turnkey construction
for oil refinery, petrochemical and gas chemical production projects in
Russia, including the facilities required for offshore oil field operations.
Thierry Pilenko, Technip’s Chairman and CEO, stated: “Cooperation with Rostec
offers new business development opportunities for Technip in the Russian oil
and gas market. We are delighted to reinforce a long-term industrial footprint
in the country. The combination of Technip’s capabilities and extensive
experience will enable the newly-formed companies to better serve their
clients, in both the onshore and subsea businesses.”
Philippe Barril, Technip’s Executive Vice President and Chief Operating
Officer Onshore/Offshore, declared: “The agreement signed with Rustechexport
regarding onshore activities is completely in line with our business strategy
of focusing on developing our strengths, notably engineering and project
management capabilities as well as project delivery skills.”
Sergey Chemezov, CEO of Rostec, commented: “With the creation of this JV, we
are launching the production of state-of-the-art high-technology equipment for
oil and gas industry at Rostec plants and other Russian manufacturers. The use
of technologies owned by Rostec for the purposes of oil and gas industry will
ensure diversification of their activities and create new jobs.”
Technip is a world leader in project management, engineering and construction
for the energy industry.
From the deepest Subsea oil & gas developments to the largest and most complex
Offshore and Onshore infrastructures, our 36,500 people are constantly
offering the best solutions and most innovative technologies to meet the
world’s energy challenges.
Present in 48 countries, Technip has state-of-the-art industrial assets on all
continents and operates a fleet of specialized vessels for pipeline
installation and subsea construction.
Technip shares are listed on the NYSE Euronext Paris exchange and the USA
over-the-counter (OTC) market as an American Depositary Receipt (ADR: TKPPY).
State Corporation Russian Technologies (Rostec) is a Russian corporation
established in 2007 in order to facilitate the development, manufacturing and
export of high-technology industrial products both for civilian and military
applications. Today it comprises 663 organizations grouped into 8 holding
companies in the defense industry complex and 5 in the civilian sector.
Rostec’s subsidiaries are located on the territory of 60 regions of the RF and
supply their products to over 70 countries worldwide. Net profit in 2011
totaled 45.6 bln rubles, 100 bln rubles were paid to budgets of all levels.
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