Technip and COOEC Form Joint Venture to Address the Booming Deepwater Market
PARIS -- December 20, 2013
Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) and China Offshore Oil
Engineering Co. Ltd (COOEC), the largest offshore engineering and construction
company in China, have signed an joint-venture agreement in September.
The five-year agreement, which builds on existing relationships, combines the
know-how, technical resources, complementary assets as well as commercial and
financial capabilities of both companies to target deepwater engineering,
procurement, construction and installation (EPCI) Subsea Umbilicals^(1)
Risers^(2) and Flowlines^(3) (SURF) projects at a water depth greater than 200
meters in China.
This agreement follows the successful award, at the end of 2012, to the
COOEC-Technip Consortium of the CNOOC Panyu 34-1/2 development project.
^(1) Umbilical: an assembly of hydraulic hoses which can also include
electrical cables or optic fibres used to control subsea structures from a
platform or a vessel.
^(2) Riser: a pipe or assembly of pipes used to transfer produced fluids from
the seabed to the surface facilities or to transfer injection fluids, control
fluids or lift gas from the surface facilities and the seabed.
^(3) Flowline: a 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 metres to several kilometers.
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, Tel. +33 (0) 1 47 78 39 92
Investor and Analyst Relations
Kimberly Stewart, Tel.+33 (0) 1 47 7866 74
David Tadbir, Tel. +33 (0)1 40 90 19 04
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