Press Releases - Contracts


Paris-La Défense, January 16, 2003

Technip-Coflexip wins a basic design/PMC contract for a refinery project in Colombia

Empresa Colombiana de Petroleos (Ecopetrol) has awarded Technip-Coflexip (NYSE: TKP and Euronext: 13170) the contract for the execution of the basic design and the project management for the master plan of the Cartagena Refinery Development project.

Technip-Coflexip’s basic design and PMC contract, on a rates basis, amounts to approximately 19 million euros and will last 48 months.

The contract will be carried out by Technip-Coflexip’s engineering centers in Rome and in Bogota.

The overall development project, worth about US $630 million, aims at increasing refinery capacity from 75,000 to 140,000 BPSD and at achieving the highest international standards of refinery products and environmental levels.

This contract is the crowning of the fruitful 27 years’ continuous collaboration between Technip-Coflexip and Ecopetrol, the state-owned petroleum company. Other major projects include the Barrancabermeja refinery expansion for the bottom of the barrel upgrading, the Cartagena refinery revamping and the 35,000 BPSD FCC plant at Barrancabermeja.

 

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.

 

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