October 13, 2008
Technip Awarded Contract for the Expansion of an Ethylene Plant in Russia
Technip (Paris:TEC) (ISIN:FR0000131708) has been awarded by Sibur Neftehim (a Sibur Moscow Holding subsidiary) a lumpsum engineering and procurement contract, worth approximately EUR 45 million, to expand an ethylene plant in Kstovo, Russia.
Technip's operating center in Zoetermeer, The Netherlands, will execute the contract, which follows the basic engineering contract already carried out by Technip. It covers detailed engineering, procurement and supply of main equipment and materials. Technip will also provide technical assistance during construction, commissioning and start-up.
The plant will be based on Technip's proprietary technology. During a first phase, it will be expanded to a capacity of 360,000 tons per year. In a second phase, it would be further expanded to a capacity of 450,000 tons per year.
With this project, Technip confirms its leadership in the field of new and revamp facilities for ethylene production. It is one of the few world-class companies capable of providing a complete range of services for ethylene crackers, from conception to turnkey design and construction.
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 21st 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.