Technip Awarded Offshore Contract for the Martin Linge Project in Norway

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

Technip (Paris:TEC) (ISIN:FR0000131708), leader in a consortium with Samsung Heavy Industries (SHI), was awarded by Total E&P Norge, a contract for the Martin Linge development* project located approximately 180 kilometers west of Bergen, Norway, in a water depth of 115 meters. The total contract is worth approximately USD 1.25 billion, with a Technip share of around USD 780 million.

This contract covers the engineering, procurement, fabrication, transportation, hook-up and commissioning of the topsides of a fixed production platform. The topsides will compose of utility, process and flare modules, as well as a living quarter with 95 single-bed cabins. The topsides, with an estimated operating weight of 25,000 tons, will be installed on an eight legged jacket.

Technip’s operating center in Paris, France will execute the contract, with the support of the Chennai, India and Oslo, Norway centers. SHI will be in charge of the construction of the process, utility and flare modules and transportation from South Korea. The living quarters will be fabricated in Europe. The topsides are scheduled to be in operation by the end of 2016.

Philippe Barril, Technip EVP and COO Onshore/Offshore, stated: “Technip is proud of the confidence shown by Total E&P Norge and its partners. This strategic contract is the third offshore project awarded to the Group in the North Sea this year. It confirms the return of Technip on this market, as an engineering, procurement and construction leader on large and complex projects. This is also the continuation of a long and successful relationship with our partner SHI”.

* The Martin Linge development will consist on a production fixed platform, a floating storage offloading vessel, 50MW AC electric power from shore through a 160-kilometer subsea cable, a 24’’ gas export pipeline and an offshore control center in Stavanger.

°

° °

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 32,000 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).