Technip Awarded Subsea Contract by Chevron North Sea

  Technip Awarded Subsea Contract by Chevron North Sea

Business Wire

PARIS -- July 29, 2013

Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) was awarded by Chevron
North Sea Ltd a substantial^(1) engineering, procurement, installation and
construction (EPIC) contract for the Alder field. Chevron is developing the
Alder field as a subsea tieback to the Britannia Bridge Link Platform (BLP).
This field is located in the central North Sea, about 200 kilometers
North-East of Aberdeen, Scotland, at a water depth of approximately 150
meters.

The contract will cover a wide scope of work, from engineering to
manufacturing and installation:

  *the detailed design and pipelay of a 28-kilometer 16” pipe-in-pipe system,
  *the installation of a 28-kilometer hybrid umbilical^(2),
  *various subsea works including the installation of a manifold^(3)
    structure including HIPPS^(4), subsea isolation valve structure, valves
    and spoolpiece^(5) components.

Technip’s operating center in Aberdeen will execute the contract, which is
scheduled to be completed in the second semester of 2015. Genesis^(6) will
complete the detailed design workscope and Technip’s spoolbase in Evanton,
Scotland, will fabricate the pipe-in-pipe. DUCO Ltd, Technip’s wholly-owned
subsidiary in Newcastle, England, will manufacture the umbilical. Vessels from
the Group’s fleet will be used for the offshore campaign, including its newest
state-of-the-art pipelay vessel, the Deep Energy.

Bill Morrice, Managing Director of Technip in the United Kingdom, said: “We
are delighted to be reigniting our relationship with Chevron with this
substantial contract that will allow us to support them in bringing the Alder
field onstream. Technip has a proven track record in delivering EPIC contracts
of this scale and our unique vertical integration is an added-value advantage
for our clients as our capabilities cover the entire value chain for subsea
infrastructures. The UK Continental Shelf is still an exciting place to be
with many major fields being developed both around traditional developments
and in deeper waters West of Shetland, a market Technip is keen to maximize
opportunities.”

                                     ___

^(1) For Technip, a “substantial” subsea contract is ranging from €100 to €250
million.
^(2) Umbilical: An assembly of steel tubes and/or thermoplastic hoses which
can also include electrical cables or optic fibres used to control subsea
structures from a platform or a vessel.
^(3) Manifold: a piece of pipe with several lateral outlets and/or inlets for
connecting one pipe with 3 others.
^(4) HIPPS: High Integrity Pressure Protection System
^(5) Spoolpiece: A short section of pipe for the connection of two subsea
structures.
^(6) Genesis is a market-leading engineering company focused on providing
engineering and technical services to the global upstream oil and gas
industry. It is part of the Technip Group.

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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 38,000 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 traded in
the USA on the OTCQX marketplace (OTCQX: TKPPY).

Contact:

Technip
Public Relations
Christophe Bélorgeot, Tel. +33 (0) 1 47 78 39 92
or
Floriane Lassalle-Massip, Tel. +33 (0) 1 47 78 32 79
E-mail: press@technip.com
or
Investor and Analyst Relations
Kimberly Stewart, Tel.+33 (0) 1 47 7866 74
E-mail: kstewart@technip.com
or
David Tadbir, Tel. +33 (0)1 40 90 19 04
E-mail: dtadbir@technip.com
or
Website http://www.technip.com
 
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