Press Releases - Contracts

Paris, March 04, 2005

Memorandum of agreement for sale of diving vessel Marinos

Technip announces the signing of a Memorandum of Agreement between its subsidiary, Technip Offshore UK Limited, and Mermaid Offshore Services Limited, for the sale of the diving support vessel Marianos. Vessel handover by Technip to Mermaid is scheduled for August 2005, which will allow Technip Offshore UK to complete its ongoing commitments to the North Sea and Canada area. Once sold, the Marianos will operate in South-East Asia, particularly in the Gulf of Thailand

The disposal of the vessel Marianos is in line with Technip's strategy to adapt its assets to its business needs.

About Technip:

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, Finland and Angola as well as a world-class fleet of offshore construction vessels.

About Mermaid Offshore Services Ltd.:

Mermaid Offshore Services Limited (MOS) is a subsidiary of the Mermaid Maritime group of companies with its head office in Bangkok, Thailand. MOS is recognized as one of the leading sub-sea engineering companies in South East Asia.


Technip Public Relations

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

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


Technip Investor and Analyst Relations

G. Christopher Welton: Ph. +33 (0) 1 47 78 66 74 Fax: +33 (0) 1 47 78 67 58

Xavier d’Ouince: Ph. +33 (0) 1 47 78 25 75 Fax: +33 (0) 1 47 78 67 58


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