Press Releases - Contracts


Paris-La Défense, March 17, 2003

Technip-Coflexip award €15 million fast track contract for Blake Flank development in Central North Sea

Technip Offshore UK Limited, a UK entity of Technip-Coflexip (NYSE: TKP, Euronext: 13170) announced today that it has been awarded a fast track EPIC (Engineering, Procurement, Installation and Commissioning) contract from BG (NSW) International Ltd. for the subsea installation elements of the BG operated Blake Flank development in the Outer Moray Firth. The contract, worth €15 million (£10million), includes the tie-back of two subsea production wells and one water injection well to the existing Blake Production Manifold, and represents a continuation of Technip Offshore UK’s successful recent involvement in the Blake development.

Within the scope of the contract, Technip Offshore UK will undertake the project management, engineering and design, manufacture and installation of three flexible flowlines, one for water injection (6.5”, 4km), one for production (8”, 2.7km) and the last for gas lift (4”, 2.7km), and two electro-hydraulic control umbilicals (2.7km and 1.4km). All subsea tie-ins, testing and pre-commissioning of the completed infrastructure will also be carried out by Technip Offshore UK with a target of first oil by the end of July 2003.

Fabrication of the flexible flowlines will be undertaken at Technip-Coflexip’s Le Trait manufacturing facility, in France, and the umbilicals manufactured under a separate contract by Technip-Coflexip subsidiary, DUCO in Newcastle. All trenching and pipelay work will be carried out by the offshore support vessel, the Normand Pioneer. The tie-ins and testing will be carried out by the Diving Support Vessels (DSV), CSO Orelia and CSO Marianos.

Commenting on the award, Martin Anderson, Business Manager at Technip Offshore UK said: “Over the last few years we have developed an unrivalled knowledge of the subsea infrastructure of the Blake development having been involved in each stage of its growth. We look forward to working with BG to help bring Blake Flank onstream later on this year.”

 

With a workforce of about 19,000, Technip-Coflexip ranks among the top five 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.

Statements in this news release other than historical financial information are forward-looking statements subject to risks and uncertainties. Actual results could differ materially depending on factors such as capital expenditures in the oil and gas industry, the timing of development of offshore energy resources, materialization of construction risks, the strength of competition, interest rate movements and stability in developing countries.

 

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