Press Releases - Contracts


Paris-La Défense, June 18, 2003

Steam-craking furnace modernization contracts award in Saudi Arabia and China

Technip-Coflexip (NYSE: TKP and Euronext: 13170) has been awarded two cracking furnace modernization contracts involving its latest ethylene technology. Both contracts demonstrate the application of Technip-Coflexip’s know-how to upgrade existing cracking furnaces to increase the capacity of an Ethylene plant.

The first contract is with Saudi Petrochemical Company (SADAF) - a joint venture of SABIC and SHELL Saudi Arabia - who awarded Technip-Coflexip the modernization of five existing gas cracking furnaces at its Al Jubail ethylene plant in Saudi-Arabia. The contract involves the supply of Technip-Coflexip’s proprietary furnace technology, as well as engineering supply of all equipments, construction and start-up supervision. The relevant services will be executed and managed from Technip-Coflexip’s offices in The Hague and in Saudi Arabia.

The second contract is with China Petroleum Material & Equipment Corporation for the License, Basic engineering for the modernization of nine existing cracking furnaces at PetroChina Daqing Petrochemical Company’s (DPC) Ethylene plant in Daqing City in China.

The modernized furnaces will implement Technip-Coflexip’s latest GK6 technology and will double the ethylene capacity of existing furnaces as compared to the original design. This award extends the list of successful application of Technip-Coflexip’s GK6 technology to modernize existing cracking furnaces in China (more than 30 furnaces in 5 different sites). The contract will be executed from the Technip-Coflexip’s offices in The Hague.

 

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 shallemans@technip-coflexip.com

 

TECHNIP-COFLEXIP Investor and Analyst Relations

Christopher Welton: Tel. +33 (0) 1 55 91 88 27 Fax: +33 (0) 1 55 91 87 11 cwelton@technip-coflexip.com

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