Technip Awarded Contract by Nexen for the Golden Eagle Development in the UK North Sea

PARIS--(BUSINESS WIRE)--Regulatory News:

“This award is extremely exciting for us as it represents a key milestone in terms of contract size. We very much look forward to working with Nexen and to playing a significant part in this important field development.”

Technip (Paris:TEC) (ISIN:FR0000131708) was awarded by Nexen Petroleum U.K. Limited a lump sum contract, worth approximately €135 million, for the Golden Eagle development located 110 kilometers North-east of Aberdeen in 115 meters of water.

This contract is the largest ever awarded to Technip for a project in the United Kingdom Continental Shelf and features the reeling of mechanically lined pipe which provides a cost effective alternative for high temperature, highly corrosive materials.

This contract covers the engineering, procurement, installation and commissioning of:

• 2 export, 1 production, 1 mechanically lined water injection and 1 gas lift flowlines⁽¹⁾,
• 1 main umbilical⁽²⁾ and 2 subsea isolation valve umbilicals,
• subsea equipments,
• trenching and backfilling of all flowlines and umbilicals,
• tie-ins, protection, pre-commissioning and commissioning support.

Bill Morrice, Managing Director of Technip in the UK said: “This award is extremely exciting for us as it represents a key milestone in terms of contract size. We very much look forward to working with Nexen and to playing a significant part in this important field development.”

Technip’s operating centre in Aberdeen, Scotland will execute the project, which is scheduled to be completed in the second half of 2014. Genesis, Technip’s consultancy subsea and offshore engineering company, will complete the detailed design workscope. The flowlines will be manufactured at Technip’s flexible pipe plant in Le Trait, France. The Group’s umbilical manufacturer in Newcastle, UK, Duco, will provide the umbilicals and vessels from the Technip fleet will be used for the offshore campaign, including Apache II and Orelia.

(1) Flowline: 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) Umbilical: an assembly of steel tubes and/or thermoplastic hoses which can also include electrical cables or optic fibres used to control subsea structures from a platform or a vessel.

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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 26,500 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.

Technip shares are listed on the NYSE Euronext Paris exchange and the USA over-the-counter (OTC) market as an American Depositary Receipt (ADR: TKPPK).

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