Press Releases - Contracts


Paris, February 18, 2004

BP awards $730 million contract to stolt offshore and Technip consortium for subsea development offshore Angola

Technip, in consortium with Stolt Offshore has been awarded a contract by BP worth $730 million (€ 580 million) for the development of the Greater Plutonio field, located offshore Angola in Bloc 18, between 1,200 and 1,500 m water depth.

Technip’s share represents $180 million (€143 million) and the share of Stolt Offshore, leader of the consortium, represents approximately $550 million (€437 million).

Technip’s scope includes design, fabrication and installation of 56 km of rigid flowlines, 18.5 km of flexible lines and 38 km of umbilicals as well as 16 sub sea structures. Technip’s plant, Angoflex Limitada, located at Lobito (Angola), will manufacture the umbilicals; the 56 km rigid lines will be welded at Technip’s new spoolbase at Dande (Angola), and the 18 km of flexible pipe will be manufactured at the Le Trait plant in France. The multipurpose vessel Deep Blue will install all lines – rigid, flexible, umbilicals – during the second half 2006.

The award of this contract emphasizes the confidence of the Bloc 18 partners and Sonangol in the consortium formed by Technip and Stolt Offshore. After the recent Dalia development contract award, also in Angola, this new award confirms the leading role played by Technip in oil and gas field developments in the West African deep and ultra deep waters.

 

With a workforce of about 19,000 persons, Technip ranks among the top five corporations in the field of oil, gas and petrochemical engineering, construction and services. Headquartered in Paris, the Group is listed in New York and Paris. The Group’s main engineering and business centers are located in France, Italy, Germany, the UK, Norway, Finland, the Netherlands, the United States, Brazil, Abu Dhabi, China, India, Malaysia and Australia. The Group has high-quality industrial and construction facilities in France, Brazil, the UK, the USA, and Finland as well as a world-class fleet of offshore construction vessels.

 

TECHNIP Press Relations

Laurence Bricq: Ph. +33 (0) 1 47 78 26 37 Fax: +33 (0) 1 47 78 24 33 lbricq@technip.com

Marina Toncelli: Ph. +33 (0) 1 47 78 66 69 Fax: +33 (0) 1 47 78 24 33 mtoncelli@technip.com

 

TECHNIP Investor and Analyst Relations

Christopher Welton: Ph. +33 (0) 1 47 78 66 74 Fax: +33 (0) 1 47 78 67 58 cwelton@technip.com

David-Alexandre Guez: Ph. +33 (0) 1 47 78 27 85 Fax: +33 (0) 1 47 78 67 58 daguez@technip.com

 

Technip trades under the symbol TKP on the NYSE and under the ISIN FR0000131708 on the Euronext.