Technip: Subsea Contract for Papa-Terra Field in Brazil

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

Technip (Paris:TEC) (ISIN:FR0000131708) has been awarded by Papa Terra BV⁽¹⁾ a contract for the supply of Integrated Production Bundles (IPB⁽²⁾) for the Papa-Terra field. This field is located at a water depth of 1,200 meters in the Campos Basin, approximately 110 kilometers offshore Brazil.

The contract includes the engineering, procurement, manufacturing and supply of 27 kilometers of IPB risers⁽³⁾ and flowlines⁽⁴⁾, and an electrical and monitoring module that will be installed on the P-63 floating production, storage and offloading unit (FPSO).

Technip’s IPB technological solution will be used in the heavy oil Papa-Terra field to increase the temperature of the produced fluid after long shut-downs in order to reduce its viscosity, thus enabling well production restart. A new and innovative monitoring system, using the distributed temperature sensor (DTS⁽⁵⁾) technology, has been specially developed for this application and will be incorporated in the IPB for the first time.

Technip's operating center in Rio de Janeiro, Brazil will perform this contract. The IPBs will be manufactured at the Group’s manufacturing plants and the electrical and monitoring module will be designed and procured by Technip Brazil. The delivery of the modules and the IPBs are respectively scheduled for the 1^st quarter and the end of 2012.

⁽¹⁾Papa Terra BV is a Special Purpose Company formed by Petrobras (Operator – 62.5%) and Chevron (37.5%) for the exploration of the Papa Terra field.
⁽²⁾ IPB (Integrated Production Bundle) is a flexible pipe with an incorporated electrical heating system aimed to increase internal fluid temperature, thus increasing oil flow.
⁽³⁾ Riser: a pipe or assembly of pipes used to transfer produced fluids from the seabed to surface facilities.
⁽⁴⁾Flowline: flexible or rigid pipe laid on the seabed for the transport of production or injection fluids.
⁽⁵⁾ The distributed temperature sensor (DTS) technology has been jointly developed by Technip and Schlumberger.

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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 48 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.

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Group website http://www.technip.com

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