Technip Awarded Contract for the Nord Stream Project in the Baltic Sea

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

Technip (Paris:TEC) (ISIN:FR0000131708) has been awarded by Nord Stream AG a frame contract, worth approximately €35 million, for the Nord Stream project in the Baltic Sea.

Technip’s operating center in Stavanger, Norway will execute this contract.

The contract covers four tie-ins on the two parallel pipelines that will run through the Baltic Sea, from Vyborg in Russia to Lubmin in Germany crossing Russian, Finnish, Swedish, Danish and German waters. The pipelines will have a total length of approximately 1,220 kilometers.

The subsea tie-in operations will be performed using the PRS^* and the Skandi Arctic, one of the diving support vessels from Technip’s fleet, and are scheduled for mid-2011 for the first pipeline, and mid-2012 for the second one.

^* Pipeline Repair System (PRS): this system comprises a wide range of equipment for pipeline repair, both manned and remotely operated, including welding machines, installation structures or pipeline retrieval tools. Technip is responsible for maintenance and modification services for the PRS, which is operated by Statoil.

Technip is a world leader in the fields of project management, engineering and construction for the oil & gas industry, offering a comprehensive portfolio of innovative solutions and technologies.

With 23,000 employees around the world, integrated capabilities and proven expertise in underwater infrastructures (Subsea), offshore facilities (Offshore) and large processing units and plants on land (Onshore), Technip is a key contributor to the development of sustainable solutions for the energy challenges of the 21^st century.

Present in 46 countries, Technip has operating centers and industrial assets (manufacturing plants, spoolbases, construction yard) on five continents, and operates its own fleet of specialized vessels for pipeline installation and subsea construction.

The Technip share is listed on Euronext Paris exchange and over the counter (OTC) in the USA.