Technip awarded its largest contract for Project Management Consultancy
services, in Kuwait
PARIS -- December 18, 2013
Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) was awarded by Kuwait Oil
Company (KOC) a contract, worth over USD 400 million, for consultancy services
for project management and engineering. This deals with the construction of
new oil and gas infrastructure facilities, as well as the upgrading of
existing facilities, in Kuwait. Technip will provide services for the next
five years with an option for an additional period of one year.
As a world leader in project management, engineering and construction for the
energy industry, Technip has decided to leverage its experience gained over
the past fifty years for the benefit of energy players, by developing a new
expertise focused on Project Management Consultancy services (PMC) and named
as Technip PMC. Providing an independent and experienced management team,
Technip PMC enables clients to ensure safe and successful execution of their
projects. This new contract with KOC is part of this expertise.
Technip will accompany more specifically KOC through different services,
including project management, feasibility studies, front-end design, project
controls, planning, engineering, procurement, construction management and
training of KOC project staff.
The services will mainly be performed by Technip’s teams in an operating
center created specifically for the occasion and housed at the offices based
at KOC’s headquarters in Ahmadi, Kuwait, with the support of Technip’s
organization in the Middle East, while the Group’s operating center in Milton
Keynes, United Kingdom, will execute the feasibility studies and front-end
engineering and design.
Riccardo Moizo, Senior Vice President of Technip PMC, stated: “We are proud to
have been awarded this contract by KOC. This award establishes Technip as one
of the top-tier Project Management Consultancy companies worldwide. It has
been fueled notably by skills and assets gained from the acquisition of Stone
& Webster process technologies in 2012.”
Vaseem Khan, Senior Vice President of Technip in the Middle East, commented:
“This contract is a significant milestone for Technip in the Middle East. The
Group will be able to reinforce its operations in the Region through the
addition of another important services center in Kuwait developed specifically
for the occasion, further strengthening our current engineering capabilities
in the Region through operating centers in United Arab Emirates and Qatar.”
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).
Christophe Bélorgeot, +33 (0) 1 47 78 39 92
Investor and Analyst Relations
Kimberly Stewart, +33 (0) 1 47 7866 74
David Tadbir, +33 (0)1 40 90 19 04
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