Press Releases - Contracts

Paris, May 27, 2004

Technip/Fels Setal consortium secures US$ 639 million P-51 contract from Petrobras offshore Brazil

The Technip/Fels Setal consortium has been awarded by Petrobras Netherlands BV (Petrobras) a contract worth approximately USD 639 million for the engineering and construction of the P-51 semi-submersible production platform – the sister unit to the P-52 platform awarded late last year to the same consortium.

Delivery of the floating production unit to be deployed in the Marlim Sul field in the deep water of the Campos Basin is due in 47 months from contract award.

The project management and procurement activities for the topsides will be shared (25%/75%) between Technip and Fels Setal.

The project involves the detail engineering, procurement and construction of a 41,000 tones unit capable of producing 180,000 barrels of oil and 6,000,000 Sm3 of natural gas a day.
It will be installed in 1,255 m of water, 175 km from the coast, and is scheduled to begin production in the first quarter of 2008.

Technip, through its fully-owned subsidiary Technip Engenharia, based in Rio de Janeiro, will be responsible for the overall detailed engineering of the topsides for a total dry weight of
19 000 mt, as well as the engineering procurement services.

Fels Setal will fabricate the main parts of the hull in Brazil.

Daniel Valot, Chairman and CEO of Technip, said: “The P-51 project will create thousand of jobs and will enhance the capabilities of the local companies, as well as confirm the Technip / Fels Setal consortium as a key supporter of Brazil’s effort to increase oil output from Campos Basin and other Brazilian oil fields with significant local content.”

With more than 25 years presence in Brazil, Technip - through its affiliates Technip Engenharia and Brasflex - is the country’s largest engineering workforce. In addition, with its flexible pipe plant in Vitoria and its rigid pipe spoolbase located in Barra do Riacho, the Group is in a position to fulfill all clients requirements and specifications and demonstrate its capabilities.


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.


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