The Technip-DeepOcean PRS Joint Venture Awarded Frame Agreement by Statoil
PARIS -- June 26, 2014
Regulatory News :
Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) :
The Technip-DeepOcean PRS Joint Venture (JV) was awarded by Statoil ASA a new
frame agreement for Pipeline Repair System* (PRS) Pool services. Starting on
December 1^st, 2014, the agreement will have a firm duration of five years as
well as three optional periods of two years each. The contract was sent out on
competitive tender by Statoil in December last year and will replace the
existing one which was awarded to Technip by Statoil in 2005 for subsea
services, comprising maintenance and preparation of equipment utilized for
This agreement will ensure pipeline contingency for the PRS Pool members
currently covering up to 15,000 kilometers of pipeline. The scope of work
*The management, administration, operation and maintenance of the PRS
*Mobilisation/demobilisation and offshore operations related to the use of
the PRS equipment,
*Studies, engineering, procurement and fabrication for PRS Pool.
The geographical location for performing the work will primarily be at the
premises provided by Statoil at Killingøy in Haugesund, Norway, while the
offshore operations will mainly cover the North Sea. Area of operation may be
extended globally based on Statoil's future requirements.
This JV builds on existing relationships and combines the know-how, technical
resources, complementary personnel expertise of both companies to serve
Statoil’s needs to develop PRS.
Odd Strømsnes, Managing Director of Technip in Norway, declared: "Technip is
looking forward to strengthening its collaboration with Statoil and its
partner DeepOcean to further develop the PRS technologies and support their
implementation in the Norwegian and worldwide markets."
Mads Bårdsen, President of DeepOcean AS, stated: “This award enables both
Technip and DeepOcean to continue and further develop this world leading
deepwater subsea competency.”
* Pipeline Repair System: this system comprises a wide range of equipment for
pipeline repair, both manned and remotely operated, including automatic
welding machines, habitats, hot tap units, concrete removal tools, etc.
The equipment is owned by the PRS Pool members. The PRS Pool is operated by
Statoil on behalf of the PRS Pool members.
° ° °
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 40,000 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).
About DeepOcean Group
DeepOcean Group is an integrated provider of safe, high quality, innovative
services and technologies for the subsea industry. Demonstrating an extensive
track record, DeepOcean Group offers a breadth of subsea services, including
Survey and Seabed-mapping, Subsea Installation (SURF), Seabed Intervention,
Inspection, Maintenance and Repair (IMR), and Decommissioning.
This strong portfolio of services, coupled with a fleet of owned and
controlled specialised equipment and multi-purpose support spreads, enables
DeepOcean Group to bundle its subsea services to deliver cost-effective,
tailored solutions to meet individual client needs.
DeepOcean Group strives for relentless customer focus and operational
excellence, which is supported by a global team of highly professional and
experienced project teams. The company delivers innovative engineering
solutions and turnkey project management for complex offshore operations.
The company is a leading IMR Contractor and trenching operator in the Greater
North Sea and has a global presence with offices in Norway, UK, the
Netherlands, Brazil, Mexico and Singapore.
Christophe Bélorgeot, Tel. +33 (0) 1 47 78 39 92
Laure Montcel, Tel. +33 (0) 1 49 01 87 81
Investor and Analyst Relations
Kimberly Stewart, Tel.+33 (0) 1 47 7866 74
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Rolf Ivar Sordal, Tel: +47 950 88 030
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