Contract award for the subsea development of Simian/Sienna gas field offshore Egypt
Technip-Coflexip (NYSE: TKP and Euronext: 13170) has been awarded by Burullus Gas Company an EPIC contract worth about US $300 million for the subsea development of the Simian/Sienna gas fields offshore Egypt. Burullus Gas Company is a joint venture company amongst the Egyptian Natural Gas Holding Company EGAS, British Gas Egypt and Edison.
The project, which does not require any third party financing, has already become effective and the work is scheduled to be completed in March 2005.
This contract represents a new success for Technip-Coflexip in major deepwater offshore EPIC projects. It underlines the synergies — on the technical, management and commercial levels —developed since the merger between Technip and Coflexip. It is also a significant breakthrough in the offshore sector in Egypt: until now Technip-Coflexip had been working mainly in the onshore/downstream sector, recently completing on a lump sum turnkey basis the MIDOR grass-roots refinery near Alexandria, as well as several refining units in Ameriya and Suez.
The project scope of work mainly includes six subsea Christmas trees, two manifolds (M1 & M2), an electro-hydraulic multiplex control system, and a methanol injection unit supported by a dedicated offshore controls platform which will be supplied by a combined power and communication umbilical from the onshore facility. It also includes 2 main umbilicals, a 4-inch glycol injection pipeline, a 20-inch infield pipeline between M1 and M2 and a 26-inch export pipeline from manifold M1 to be connected into the nearby Scarab/Saffron fields. The contract also provides an option exercisable by Burullus Gas Company for additional subsea facilities for Sapphire field development.
The Simian field which includes two Sienna tie-backs is located 114 km offshore Idku, in water depths ranging from 677 meters to 993 meters. It is expected to produce 665 million SCFD of gas to be used as feedstock for the first train of the LNG plant under construction at Idku, near Alexandria.
Under the terms of this contract, Technip-Coflexip will provide the design, engineering, procurement, fabrication, installation, testing and commissioning of the Simian/Sienna subsea facilities. The project will be carried out by Technip-Coflexip’s engineering center in Aberdeen supported by the Group’s affiliate Genesis. The umbilicals will be fabricated by DUCO, the Group’s subsidiary based in Newcastle. Several construction vessels of the Technip-Coflexip’s fleet will be involved. Egyptian national subcontractors will perform the design, fabrication and installation of the platform.
With a workforce of about 19,000 persons, Technip-Coflexip 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 (NYSE: TKP) and in Paris (Euronext: 13170). The main engineering and business centers of Technip-Coflexip 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-Coflexip Press Relations
Sylvie Hallemans: Tel. +33 (0) 1 47 78 34 85 Fax: +33 (0) 1 47 78 24 33 firstname.lastname@example.org
Technip-Coflexip Investor and Analyst Relations
Christopher Welton: Tel. +33 (0) 1 47 78 66 74 Fax: +33 (0) 1 47 78 67 58 email@example.com
David-Alexandre Guez: Tel. +33 (0) 1 47 78 27 85 Fax: +33 (0) 1 47 78 67 58 firstname.lastname@example.org