Technip Awarded FEED Contract for the Liuhua Fields in the South China Sea

Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) and its consortium partner China Offshore Oil Engineering Company (COOEC) have been awarded a front end engineering design (FEED) contract by China National Offshore Oil Corporation Limited (CNOOC Ltd.) for two tension leg platforms⁽¹⁾ (TLPs) for the Liuhua 11-1 and 16-2 joint development project located in the South China Sea.

As key technical partner to COOEC, Technip will carry out the FEED work of China’s first two TLPs.

The contract covers the design and engineering of the topsides (including two drilling rigs), hulls, mooring and riser systems. It is expected to be completed by the end of 2015.

Technip's operating center in Houston, Texas, USA, will execute the FEED contract.

Deanna Goodwin, President of Technip in North America, stated: "We are very proud to have earned the confidence of our client CNOOC Ltd. and partner COOEC. We are looking forward to developing a strong long-lasting collaboration with both of them on this exciting key project.”

⁽¹⁾Floating production platform anchored by tensioned cables, thus limiting vertical movement caused by heavy swells. This platform design allows for the well heads to be located at the surface, on the platform.

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