PARIS - (Business Wire) Technip (Paris:TEC) (ISIN:FR0000131708) has been awarded by Nigerian Agip Exploration Ltd. a lumpsum turnkey contract, worth approximately
€75 million, for the development of the OYO oil field. This field is located off the coast of Nigeria in Block OML 120/121, at water depths reaching 410 meters.
The contract includes:
- the engineering, fabrication and installation of close to 20 kilometers of flexible production, water injection and gas injection flowlines(1) and risers(2),
- the installation of close to 15 kilometers of umbilicals(3) supplied by the client.
Technip’s operating center in Paris, France, will execute this contract. The flexible flowlines and risers will be fabricated by Technip’s Le Trait plant, France, one of the Group’s flexible pipe production facilities.
The offshore installation is scheduled for the summer of 2009 and will be carried out by the Constructor, one of the Technip’s pipelay and construction vessels.
The award of this Subsea contract follows the execution of the ABO and ABO extension (ongoing) projects by Technip in Nigeria.
Technip has been active in Nigeria for more than thirty years, notably through its Nigerian operating center and affiliates, as well as in partnership with local companies.
(1) Flowline: a pipe, laid on the seabed, which allows the transportation of oil/gas production or injection of fluids. Its length can vary from a few hundred meters to several kilometers.
(2) Riser: a pipe or assembly of pipes used to transfer produced fluids from the seabed to surface facilities, and transfer injection or control fluids from the surface facilities to the seabed.
(3) Umbilical: an assembly of hydraulic hoses which can also include electrical cables or optic fibres used to control subsea structures from a platform or a vessel.
With a workforce of 23,000 people, Technip is a worldwide leader in the field of oil, gas and petrochemical engineering, construction and services. The Group is headquartered in Paris.
The Group’s main operating centers and business units 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.
The Technip share is listed in Paris on Euronext Paris.
Technip
Public Relations
Yves Gautier, +33 (0) 1 47 78 25 33
Floriane Lassalle-Massip, +33 (0) 1 47 78 32 79
press@technip.com
or
Investor and Analyst Relations
Kimberly Stewart, +33 (0) 1 47 78 66 74
kstewart@technip.com
or
Antoine d’Anjou, +33 (0) 1 47 78 30 18
adanjou@technip.com
or
Group website
http://www.technip.com
