Press Releases - Contracts


Paris, April 22, 2004

Technip awarded major feed contract by ChevronTexaco for the Tahiti project in the Gulf Mexico

Technip announced today that Technip Offshore Inc. (TOI) – its U.S. entity based in Houston – has been awarded a Front End Engineering Design (FEED) services contract by ChevronTexaco for the development of the Tahiti project facilities in deepwater Gulf of Mexico.

The Tahiti field will be developed from two subsea drill centers located near the two Tahiti appraisal wells located in Green Canyon 596 & 640, completed in early 2003. One of the wells encountered more than 1,000 feet of net pay, one of the most significant net pay accumulations in the history of the Deepwater Gulf of Mexico.

The scope of work includes front-end engineering and design for a Truss Spar floating production facility - ChevronTexaco has selected Technip’s Spar Platform solution as the basis for the FEED work - to be located in Green Canyon 640, 641 and 596, approximately 190 miles southwest of New Orleans and includes development of the associated Mooring Systems, Risers and Subsea Systems.

Construction contracts are expected to be awarded in the second quarter of 2005.

Concurrently with the FEED award, ChevronTexaco has signed a Memorandum of Understanding (MOU) with TOI for the Hull and Mooring Engineering, Procurement and Construction Contract.

ChevronTexaco is the operator of the Tahiti Project with 58 percent working interest. Tahiti partners are EnCana Gulf of Mexico LLC (25 percent work interest) and Shell Exploration & Production Company (17 percent working interest).

Svein Eggen, President & CEO of TOI stated: “We are encouraged by the confidence placed in Technip to deliver when promised and are pleased to have the opportunity to apply our technologies and experience to address the challenges offered by Tahiti”.

 

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

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

David-Alexandre Guez: Ph. +33 (0) 1 47 78 27 85 Fax: +33 (0) 1 47 78 67 58 daguez@technip.com

 

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