Technip awarded subsea contract for the Balnaves field development

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

Technip (Paris:TEC) (ISIN:FR0000131708) was awarded by Apache Energy Ltd a subsea installation contract worth approximately A$60 million (about €50 million) for the Balnaves oil field development, located in the Carnarvon Basin, offshore North Western Australia, at a water depth of approximately 135 meters.

The contract includes the project management, design, engineering and installation of:

• seven kilometers of flexible flowlines⁽¹⁾ and risers⁽²⁾,
• three kilometers of umbilicals⁽³⁾,
• manifolds, spools⁽⁴⁾, flying leads and jumpers⁽⁵⁾,
• a mooring system and riser column.

Technip’s operating center in Perth, Australia, will execute the contract, with engineering to commence immediately. The project is scheduled to be completed during the second half of 2013. Technip’s new-built multipurpose installation and construction vessel, the Deep Orient, will be used during the offshore campaign and will commence operations in 2013.

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⁽¹⁾ Flowline: a flexible or rigid 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⁾ Riser: a pipe or assembly of pipes used to transfer produced fluids from the seabed to the surface facilities or to transfer injection fluids, control fluids or lift gas from the surface facilities and the seabed.

⁽³⁾ Umbilical: an assembly of steel tubes and/or thermoplastic hoses which can also include electrical cables or optic fibers used to control subsea structures from a platform or a vessel.

⁽⁴⁾ Spool: short length pipe connecting a subsea pipeline and a riser, or a pipe and a subsea structure.

⁽⁵⁾ Jumper: a short section of pipe for the connection of two subsea structures.

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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 30,000 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 the USA over-the-counter (OTC) market as an American Depositary Receipt (ADR: TKPPK).