Technip Awarded Renewal of Subsea Services Framework Agreement with Statoil, Exxon Mobil & Gassco

Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) was awarded a new framework agreement by Statoil, Exxon Mobil and Gassco for diving, subsea intervention and repair contingency services. Under the terms of this framework agreement, a replacement of an existing frame agreement held for eight years, Technip will provide these services for the next four years. This contract, effective from December 1^st 2014, also includes an option for additional periods up to seven years.

• The services comprise diving and remote operations using the Group’s dedicated diving support vessels (DSVs) and/or construction vessels.
• The area of operation includes continental areas from the Barents Sea to the Mediterranean Sea, the Baltic Sea and North Atlantic Ocean as well as Newfoundland, Canada. The area of operation may be extended globally based on Statoil's future requirements.

Technip’s operating center in Stavanger, Norway, will administrate and execute the projects under this framework agreement, supporting Statoil on demanding projects requiring saturation diving, air diving and/or equipment spreads from the Pipeline Repair System (PRS) Pool.

Odd Strømsnes, Managing Director of Technip in Norway, states: "This framework agreement will enable us to consolidate our excellent relationship with Statoil. We are proud to provide our services to all members of the PRS Pool for the maintenance of underwater pipelines, requiring advanced technology. With both DSV and construction vessels currently under construction, Technip maintains its commitment to developing a world-class fleet to support Statoil and other operators combining diving and ROV operations.”

____

°

° °

Technip is a world leader in project management, engineering and construction for the energy industry.
From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 40,000 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges.
Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.
Technip shares are listed on the NYSE Euronext Paris exchange and traded in the USA on the OTCQX marketplace (OTCQX: TKPPY).