Technip-Coflexip awarded a US $82 million EPIC contract in Indonesia for the Block B subsea development, Natuna Sea
Technip-Coflexip (NYSE: TKP and Euronext: 13170) announced today that its Indonesian entity, PT Technip Indonesia, has been awarded an EPIC contract by ConocoPhillips Indonesia Inc. for the Block B Subsea Development (BBSD) Gas Project. The contract, worth around US $82 million (86 million euros), involves the subsea tie back of approximately 14 subsea wells to existing platforms in Block B of the Natuna Sea, Indonesia, over three offshore installation campaigns from 2003 to 2005.
The scope of work involves the project management, design engineering, procurement and installation of the complete subsea systems, including flowlines, spoolpieces, subsea control umbilicals (trenched), subsea control systems, manifolds and protection structures.
The scope also involves topsides modification work on the existing Belida and Hang Tuah facilities including deck extensions, procurement/installation of new equipment and software modifications to facilitate control of the new wells. At contract award the scope of work includes approximately 50km of flowlines (8-14”) and 54km of subsea control umbilicals. The subsea control umbilicals will by supplied by another Technip-Coflexip entity, DUCO Ltd, based in Newcastle, UK. Technip-Coflexip’s dynamically positioned diving/construction vessel CSO Venturer will be used for all three phases of the offshore work.
Edgar Pushparatnam, President of PT Technip Indonesia stated that “We are delighted to be awarded this EPIC project by ConocoPhillips, which is understood to be the biggest subsea EPIC contract to be awarded in this region for some time. We look forward to further enhancing our excellent relationship with ConocoPhillips following the successful completion of a similar, smaller scale installation contract last year”.
With a workforce of about 18,000, Technip-Coflexip ranks among the top five in the field of oil 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.
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