Technip announces conversion of Khursaniyah gas plant contract into lumpsum turnkey
Technip, in consortium with Bechtel, has signed a contract with Saudi Aramco for the conversion of the Khursaniyah (Saudi Arabia) gas plant project into a lumpsum turnkey contract. The contract was originally awarded to this consortium in March 2005 on a time unit rate basis.
This grassroots gas plant project is part of the Khursaniyah, Fadhli and Abu Hadriyah hydrocarbon field development program that will substantially increase Saudi Arabian oil and gas production capacity.
The Khursaniyah gas plant project includes processing facilities for up to 1,000 million standard cubic feet/day of sour gas to produce 560 million standard cubic feet/day of sales gas, 300,000 barrels/day of C2+ natural gas liquids and 1,800 metric tons/day of liquid sulphur.
Technip's operations and engineering center in Rome, Italy, and Overseas Bechtel's offices in London, United Kingdom, are executing the project management, basic and detailed engineering, and procurement of equipment and materials. Construction and pre-commissioning activities are handled by the Saudi Arabian affiliates of Technip and Bechtel.
The plant is scheduled for completion in the first quarter of 2008.
This project joins a long list of major projects executed by Technip over the past 30 years in Saudi Arabia, including several other large projects for Saudi Aramco.
The conversion into lumpsum turnkey of the Khursaniyah contract will increase by approximately €600 million Technip's backlog as at June 30, 2007 at €10.27 billion to be compared to €9.88 billion as at March 31, 2007.
With a workforce of 22,000 people, 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 operations and engineering centers and business units are located in France, Italy, Germany, the UK, Norway, Finland, the Netherlands, the USA, Brazil, Abu-Dhabi, China, India, Malaysia and Australia.
In support of its activities, the Group manufactures flexible pipes and umbilicals, and builds offshore platforms in its manufacturing plants and fabrication yards in France, Brazil, the UK, the USA, Finland and Angola, and has a fleet of specialized vessels for pipeline installation and subsea construction.
Technip Public Relations
Laurence Bricq: Ph. +33 (0) 1 47 78 26 37 Fax: +33 (0) 1 47 78 24 33 firstname.lastname@example.org
Technip Investor and Analyst Relations
Xavier d’Ouince: Ph. +33 (0) 1 47 78 25 75 Fax: +33 (0) 1 47 78 67 58 email@example.com
Technip trades under the symbol TKP on the NYSE and under the ISIN FR0000131708 on the Euronext.