Press Releases - Contracts

Paris, December 23, 2003

Press release

Technip and some of its key managers have been cited in recent news stories in relation to a judicial investigation. Technip’s standing policy is not to comment on affairs covered by judicial confidentiality. However, in this case the Group can no longer remain silent in the face of ever increasing factual errors as reported in certain media.

As far as Technip is aware, a judicial investigation was opened in October 2003 relating to certain contracts involving the construction of an LNG facility in Nigeria by the joint-venture TSKJ. TSKJ stands for Technip, Snamprogetti, Kellogg Brown and Root (KBR), JGC. It is not accurate, however, to state that this investigation is targeting Technip and/or KBR, the Halliburton subsidiary which is the leader of the TSKJ joint-venture. In fact, the investigation has been opened against unnamed persons.

It is also incorrect to make reference to "secret payments". All supplier payments made by the TSKJ joint-venture in relation to the Nigerian LNG project have been the subject of standard supplier contracts, and have been consistently registered in the JV’s books.

It is equally incorrect and egregious to present as established facts, at a time when the judicial investigation is at an early stage, the existence of a “hidden cash box,” a “questionable financial structure” and a system of “bribery.”

The liberties that certain newspapers have taken with the principle of judicial confidentiality as well as with factual accuracy can be prejudicial to the interests of the Group. As such, Technip reserves the right to protect its interests and those of its shareholders, including through the initiation of legal action if necessary.

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

Sylvie Hallemans: Tel. +33 (0) 1 47 78 34 85 Fax: +33 (0) 1 47 78 24 33


Technip Investor and Analyst Relations

Christopher Welton: Tel. +33 (0) 1 55 91 88 27 Fax: +33 (0) 1 55 91 87 11

David-Alexandre Guez: Tel. +33 (0) 1 47 78 27 85 Fax: +33 (0) 1 55 91 87 11