Press Releases - Contracts


Paris, December 15, 2005

Technip: coming into force of the contract for a major ethylene plant in Kuwait

Technip has signed a contract for the construction of an ethylene plant at The Kuwait Olefins Company’s (TKOC) new Olefins-2 Petrochemical Complex in Shuaiba, Kuwait. This contract covers the detail engineering, procurement and supply of equipment and materials, construction and pre-commissioning and follows the signing in June 2005 of a memorandum of understanding between Technip and TKOC, a joint venture between The Dow Chemical Company (Dow), Petrochemical Industries Company, Kuwait (PIC) and Kuwaiti Private Companies.

The plant, with a planned production capacity of 850,000 mt/year, will play an important role in Kuwait’s program to significantly increase the country’s ethylene derivatives production by 2008.

Technip’s operations and engineering center in Rome (Italy) will execute the contract. The project is scheduled to be completed early 2008.

The plant will be based on Technip’s in-house technology. The basic engineering for the proprietary SMK®* cracking furnaces, as well as the front-end design for the recovery section have already been provided by Technip’s operations and engineering center in Claremont, California.

Technip is a leader in the field of ethylene production and is one of the few world-class groups capable of assuming complete responsibility for steam crackers, from conceptual design to turnkey design and construction.

* Technip’s SMK® technology has become the preferred choice of various ethylene producers for cracking gas feeds.

 

With a workforce of about 20,000 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 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

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

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.