Technip Awarded Major Contracts for the Ultra-Deepwater TEN Project in Ghana, Reinforcing Its Presence in West Africa

  Technip Awarded Major Contracts for the Ultra-Deepwater TEN Project in
  Ghana, Reinforcing Its Presence in West Africa

Business Wire

PARIS -- October 31, 2013

Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY), leader of a consortium
with Subsea7, has been awarded by Tullow Ghana Limited two contracts for the
TEN Project, located offshore Ghana, at a water depth reaching up to 2,000
meters. Together, those two contracts have a combined value of approximately
USD 1.23 billion, with a Technip share of about USD 730 million.

Technip’s scope of work includes the:

  *engineering, fabrication and installation of 9 flexible risers^(1), 3
    flexible flowlines^(2) and 12 flexible spools^(3) totaling 48 kilometers;
  *engineering, fabrication and installation of 33 kilometers of water
    injection and gas injection rigid flowlines;
  *installation of about 63 kilometers of static and dynamic umbilicals^(4);
  *engineering, pre-fabrication, final assembly and installation of 10 well
    rigid jumpers^(5) and delivery of further 6 prefabricated rigid jumpers.

For the benefit of this project in ultra-deep water requiring technical
innovation, Technip has mobilized its worldwide organization combining
together know-how and various areas of expertise. Thus, Technip’s operating
center in Paris, France, will execute this project with the support of the
Group’s offices in Accra, Ghana. The flexible pipes will be fabricated at
Technip’s Flexi France facility in Le Trait, France and the rigid flowlines at
the Group’s spoolbase in Evanton, UK.

The offshore installation is scheduled to be completed in the second half of
2016.

The TEN Field is located in the Deepwater Tano Contract Area, 60 kilometers
off the coast of Ghana and approximately 30 kilometers west of the Tullow
Operated Jubilee Field. Tullow Ghana Limited (a subsidiary of Tullow Oil plc)
is Operator of the Deepwater Tano Contract Area with an interest of 47.175%.
Other partner interests are Kosmos Energy (17%), Anadarko Petroleum (17%),
Sabre Oil & Gas Holdings Ltd, a subsidiary of Petro SA (3.825%), and the Ghana
National Petroleum Corporation (15%).

Frédéric Delormel, Executive Vice President and Chief Operating Officer
Subsea, declared: “While the oil and gas market is rapidly growing in Ghana,
we are proud to continue to contribute to the development of this country.
Today, this new award demonstrates our ability to mobilize worldwide resources
to bring strong know-how and technological innovation meeting the challenges
of projects in ultra-deepwater.”

Jean-Marc Aubry, Senior Vice President, Technip’s Region A^(6) stated: “We
have been operating in Ghana for over four years, when we were awarded the
Jubilee project, the first deep water field ever developed in this country.
These new awards correspond to a significant milestone for our presence in
Ghana.”

                                     ____

^(1) Riser: a pipe or assembly of pipes used to transfer produced fluids and
or products from the seabed to surface facilities, and transfer injection or
control fluids from the surface facilities to the seabed.
^(2) Spool: short length pipe connecting a subsea pipeline and a riser, or a
pipe and a subsea structure.
^(3) Flowline: a flexible or rigid pipe, laid on the seabed, which allows the
transportation of oil/gas production or injection of fluids. Its length can
vary from a few hundred meters to several kilometers.
^(4) Umbilical: an assembly of steel tubes and/or thermoplastic hoses which
can also include electrical cables or optic fibers used to control subsea
structures from a platform or a vessel.
^(5)Jumper: a short section of pipe for the connection of two subsea
structures.
^(6) Technip Region A is composed of Western Europe, Africa, India and
Pakistan.

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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:

Public Relations
Christophe Bélorgeot, Tel. +33 (0) 1 47 78 39 92
E-mail: press@technip.com
or
Investor and Analyst Relations
Kimberly Stewart, Tel.+33 (0) 1 47 7866 74
E-mail: kstewart@technip.com
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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