Press Releases - Contracts

Paris, March 24, 2005

Technip and Subsea 7 awarded contract for the deepwater Roncador field development in Brazil

Technip, in association with Subsea 7, has been awarded by Petroleo Brasileiro SA (Petrobras) an engineering, procurement, installation and construction contract worth around US$ 500 million (approximately US$ 350 million Technip’s share). The contract includes the design, manufacture and installation of flexible risers and flowlines and the installation of umbilicals and jumpers for the tie-back of approximately 30 production and injection wells to the P-52 platform. The project is located in down to 2,000 meter water depth in the Roncador field in the Campos Basin.

Technip’s engineering center in Rio de Janeiro will design the risers and associated subsea flowlines, which will be manufactured at the Group’s flexible pipe plant located in Vitoria in the state of Espirito Santo (Brazil). The Group will upgrade its manufacturing facility to accommodate the workscope. Technip will supply 221 km in length of 4” to 9” diameter flexible lines.

Subsea 7, based in Niteroi in the state of Rio de Janeiro, will carry out the installation, pull-in and hook-up of the risers, flowlines and ancillary equipment to the P-52 platform, as well as an additional 83 km of jumpers and 163 km of umbilicals free-issued by the client. Offshore works will commence in late 2006 using the subsea installation vessel Kommander 3000.

Frédéric Delormel, President of Technip in Brazil, stated, “The bid process for this landmark project included extensive screening of potential concepts. It is particularly rewarding therefore that flexible technology developed in partnership with Petrobras has once again demonstrated its superior benefits for ultra deepwater applications. We are especially proud that our solution, offered in partnership with Subsea 7, provides the winning combination of competitive price and highest Brazilian content.”

Victor Bomfim, Vice President of Subsea 7 Brazil, stated, “We are delighted that Subsea 7 is involved in the largest and most prestigious subsea installation so far awarded in Brazil, and we welcome the opportunity to renew the partnership we have with Technip in other parts of the world. This contract reflects the commitment both companies have to Brazil”

 

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.

 

Technip Public 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

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

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

 

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