Technip closes its sale of Diving Assets in the Gulf of Mexico

Regulatory News:

Effective Friday, December 5, 2014, Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) has completed the previously announced sale of its Diving Assets in the US Gulf of Mexico to Ranger Offshore Inc.⁽¹⁾.

This sale reinforces Technip’s strategy to focus on its core North America subsea business lines of high technology and ultra-deep water products and services, which, together with its approach of early involvement enables Technip to provide clients with optimized cost and schedule driven solutions.

Proceeds from this divestment will be partially reinvested directly into the North America Subsea business segment, specifically focusing on enhancements to its spoolbase located in Mobile, Alabama, USA, and optimization of certain construction and pipelay vessels.

As part of this transaction, Technip USA and Ranger Offshore have entered into a multiyear Diving Services Agreement covering Technip’s North America Region.

⁽¹⁾ Ranger Offshore Inc. is a portfolio company of SunTx Capital Partners. Formed in 2008 and based in Houston, Texas, with operating centers located in Galveston and Lafayette, Louisiana, and Ciudad del Carmen, Mexico, Ranger Offshore provides marine and subsea construction support services for the offshore oil and gas industry.

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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).