Technip Wins a New Contract in the Middle-East and Reinforces Its Position
in the Promising Subsea Business in the Region
PARIS -- January 28, 2014
Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) was awarded a substantial
contract^(1) by Dubai Petroleum Establishment (DPE). This covers the
engineering, procurement, construction and installation of the Jalilah B field
development project, located nearly 90 kilometers offshore Dubai (United Arab
Emirates, UAE), at water depth reaching 60 meters.
Technip’s scope of work consists of the construction and installation of the
Jalilah B platform, a 900-ton deck, a 500-ton jacket, as well as 13 new
risers^(2) on existing platforms. It also includes the installation of 110
kilometers of pipelines ranging from 6 to 24 inches in diameter. This contract
will use three of Technip’s specialized vessels, including the G1201, one of
the Group’s flagship S-Lay installation vessel designed for work in both deep
and shallow water.
Technip’s operating center in Abu Dhabi will execute this fast-track project,
scheduled for completion in the second half of 2014.
With a nearly 30-year presence in the Middle-East, Technip combines together
keen understanding of business needs, differentiating technology offer and
strong execution capabilities. The Group is therefore well positioned to
manage increasing complex projects of the oil and gas industry in the UAE.
Vaseem Khan, Senior Vice President of Technip in the Middle East, stated: "We
are delighted to be awarded this new project, a few months after the
successful completion of our first subsea project in the Middle East for DPE,
for the South West Fateh and Falah fields. This award reflects our clients’
trust in our capabilities to safely and successfully execute complex projects
in one of the most congested fields in the UAE. Technip can build on its
differentiating assets, such as the G1201, gained from the acquisition of
Global Industries in 2011."
^(1) For Technip, a “substantial” subsea contract is ranging from €100 to €250
^(2) 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.
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 38,500 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 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)1-47-78-66-74
David Tadbir, Tel. +33-(0)1-40-90-19-04
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