Technip Wins a New Contract in the Middle-East and Reinforces Its Position in the Promising Subsea Business in the Region

Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) was awarded a substantial contract⁽¹⁾ by Dubai Petroleum Establishment (DPE). This covers the engineering, procurement, construction and installation of the Jalilah B field development project, located nearly 90 kilometers offshore Dubai (United Arab Emirates, UAE), at water depth reaching 60 meters.

Technip’s scope of work consists of the construction and installation of the Jalilah B platform, a 900-ton deck, a 500-ton jacket, as well as 13 new risers⁽²⁾ on existing platforms. It also includes the installation of 110 kilometers of pipelines ranging from 6 to 24 inches in diameter. This contract will use three of Technip’s specialized vessels, including the G1201, one of the Group’s flagship S-Lay installation vessel designed for work in both deep and shallow water.

Technip’s operating center in Abu Dhabi will execute this fast-track project, scheduled for completion in the second half of 2014.

With a nearly 30-year presence in the Middle-East, Technip combines together keen understanding of business needs, differentiating technology offer and strong execution capabilities. The Group is therefore well positioned to manage increasing complex projects of the oil and gas industry in the UAE.

Vaseem Khan, Senior Vice President of Technip in the Middle East, stated: "We are delighted to be awarded this new project, a few months after the successful completion of our first subsea project in the Middle East for DPE, for the South West Fateh and Falah fields. This award reflects our clients’ trust in our capabilities to safely and successfully execute complex projects in one of the most congested fields in the UAE. Technip can build on its differentiating assets, such as the G1201, gained from the acquisition of Global Industries in 2011."

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⁽¹⁾ For Technip, a "substantial” subsea contract is ranging from €100 to €250 million.

⁽²⁾ Riser: a pipe or assembly of pipes used to transfer produced fluids and or products from the seabed to surface facilities, and transfer injection or control fluids from the surface facilities to the seabed.

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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 38,500 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.
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