Technip Awarded Contract by Maersk Oil in the North Sea

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

Technip (Paris:TEC) (ISIN:FR0000131708) was awarded an installation contract, worth approximately €40 million, by Maersk Oil North Sea UK Limited for the Gryphon Area Reinstatement Programme – GARP⁽¹⁾, located about 320 kilometers North-East of Aberdeen in 110 meters of water.

This contract covers installation of 15 dynamic risers⁽²⁾, 2 dynamic and 2 static umbilicals⁽³⁾, 11 flexible flowlines⁽⁴⁾ as well as subsea equipment.

Technip’s operating center in Aberdeen, Scotland will execute the contract, which is scheduled to be completed in the second semester of 2012. Vessels from the Technip fleet will be used for the campaign, including Skandi Arctic and Wellservicer.

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⁽¹⁾ The GARP project aims at reinstating the subsea infrastructure of the Gryphon field which production was stopped following damages occurred during a storm early in 2011.

⁽²⁾Riser: a pipe or assembly of pipes used to transfer produced fluids and or products from the seabed to surface facilities, and transfer injection or control fluids from the surface facilities to the seabed.

⁽³⁾ Umbilical: an assembly of thermoplastic hoses which can also include electrical cables or optic fibres used to control subsea structures from a platform or a vessel.

⁽⁴⁾ Flowline: a 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 metres to several kilometers.

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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 23,000 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).

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