Press Releases - Contracts


Paris, December 27, 2006

Technip awarded contract by BP for the extension of a purified Terephthalic acid and plant in Belgium

Technip has been awarded a services contract by BP for the extension of the production capacity of a purified terephthalic acid or PTA(1), plant located in Geel, Belgium. The contract, which covers the engineering, procurement and construction management (EPCM) of the development, will be executed by a team integrated with the client.

Technip’s operations and engineering center in Rome (Italy) will be in charge of the execution of the contract, which falls within the framework of the on-going alliance between BP and Technip in the PTA domain.

The capacity of the Geel plant will be increased by more than 350,000 tons/year, making the total PTA production capacity some 1.4 million tons/year. This increase will be achieved through debottlenecking(2) operations in the two existing units of the site, and by retrofitting the latest generation of BP’s proprietary PTA technology. This new process offers the lowest capital cost per ton of PTA capacity of any current technology and lowers variable costs significantly compared to conventional PTA technology. It is already being applied to the new PTA plants BP is building in Asia, such as the new 900,000 tons/year plant planned for Zhuhai, China.

The expansion of the PTA plant is scheduled to be fully operational in early 2008.

This contract follows the front end engineering design (FEED) contract successfully completed by Technip earlier in 2006 for the same plant.

(1)PTA (purified terephthalic acid) has the form of a white and crystalline powder primarily applied as raw material in the production of polyester fibers and plastic materials.

(2)Debottlenecking: modification of a facility in order to increase its production capacity.

 

With a workforce of more than 21,000 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 lbricq@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.