Technip awarded umbilical framework agreement contract

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

Technip (Paris:TEC) (ISIN:FR0000131708) announces that its wholly-owned subsidiary Duco Ltd. has been awarded by Shell Upstream Europe a seven year Framework Agreement Contract for the supply of umbilicals⁽¹⁾.

The contract covers engineering, procurement, project management and associated services for the fabrication and loadout of thermoplastic umbilicals up to 17 kilometers in length. The Contract Provisions shall predominately service the SWEEP⁽²⁾portfolio of prospects in the Southern North Sea, but also include new and existing requirements for Central North Sea Assets.

Combined projects may require an average of over 15-30 kilometers of thermoplastic umbilicals per year based on business planning estimates between 2011 & 2017. The umbilical systems and thermoplastic hoses will be manufactured by Duco Ltd. in its primary business facilities in Newcastle, United Kingdom.

⁽¹⁾ Umbilical: an assembly of hydraulic hoses which can also include electrical cables or optic fibres used to control subsea structures from a platform or a vessel.

⁽²⁾ SWEEP project: this project consists of a number of gas prospects in the Southern sector of the North Sea in both the Dutch and UK sectors.

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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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