Technip Awarded Important Offshore Contract for the Ichthys LNG Project in Australia

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

Technip (Paris:TEC) (ISIN:FR0000131708) has been awarded by INPEX CORPORATION an important offshore commissioning contract, worth approximately €210 million, for the Ichthys LNG Project⁽¹⁾ located in the Browse Basin, Western Australia.

An integrated team will work on all activities related to the preparation and execution of the offshore commissioning for the floating, production, storage and offloading (FPSO) unit and the central processing facility.

Technip’s operating center in Perth, Australia will execute the contract starting immediately, which is planned to be completed following the delivery of first gas from the Ichthys LNG Project scheduled in Q4 2016.

Philippe Barril, Technip’s Executive Vice President and Chief Operating Officer Onshore/Offshore stated: “We have a team of leading FPSO and semi-submersible experts who are among the world’s most experienced commissioning engineers, as well as many supporting resources with practice on similar projects in Perth. Their involvement will ensure the success of this cornerstone project as we grow our hook-up and commissioning offering for the Australian market.”

This award follows two recent contract wins for Technip on the Ichthys LNG Project this year: a services contract awarded in June for the detailed engineering and procurement assistance for the topsides⁽²⁾ facilities of the FPSO unit, and a flexible pipe supply contract awarded in April. This new contract strengthens Technip’s privileged relationship with its key client INPEX and reflects its continuing confidence in the Group’s expertise and work.

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⁽¹⁾ Tokyo-based INPEX CORPORATION, a worldwide oil and gas exploration and production company, is the operator of the Ichthys LNG Project with a 72.07% interest.

The Ichthys LNG Project is a joint venture between INPEX and Total, Tokyo Gas, Osaka Gas, Chubu Electric and Toho Gas. Gas from the Ichthys field, in the Browse Basin approximately 200 kilometers offshore Western Australia, will undergo preliminary processing offshore to remove water and extract condensate. The condensate will be pumped to the FPSO facility anchored nearby, from which it will be transferred to tankers for delivery to markets. The gas will be exported to onshore processing facilities in Darwin via an 889 kilometer subsea pipeline. The Ichthys LNG project is expected to produce 8.4 million tonnes of LNG and 1.6 million tonnes of LPG per annum, along with approximately 100,000 barrels of condensate per day at peak.

⁽²⁾ Topsides: surface installations allowing the drilling and/or production and/or processing of offshore hydrocarbons.

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