Technip awarded substantial contract for the Gullfaks field in Norway

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

Technip (Paris:TEC) was awarded by Statoil a contract for the fabrication, installation and tie-ins of flowlines⁽¹⁾ for the Gullfaks South field development. The field is in the northern part of the North Sea, located approximately 190 kilometers northwest of Bergen, Norway, at water depths between 130 and 220 meters.

The Gullfaks South project development will contribute to Statoil’s extensive initiatives on increased oil recovery and consists of two manifolds⁽²⁾ tied back to the existing Gullfaks South infrastructure by 20 kilometers of new flowlines. This development will be based on the use of direct electrical heating and pipe-in-pipe flowline technology.

Technip’s operating center in Oslo, Norway will execute the contract where offshore construction is scheduled for the first half of 2014. Technip’s spoolbase in Orkanger, Norway, will fabricate the flowlines. Offshore operations will be carried out by vessels from Technip’s fleet including the Apache II pipelay vessel and the new build construction vessel.

⁽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⁾ Manifold: a piece of pipe with several lateral outlets and/or inlets for connecting one pipe with others.

°
° °

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).