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Technip Awarded Contract for the Kupe Gas Project in New Zealand

Posted on: Friday, 8 September 2006, 03:00 CDT

Technip (Paris:TEC) (NYSE:TKP) (ISIN:FR0000131708) has been awarded a reimbursable ("cost plus fee") contract worth approximately USD 200 million by Origin Energy Resources (Kupe) Limited ("Origin") for the overall development of the Kupe Gas Project. The development is located in the Taranaki Basin, 30km off the west coast of the North Island of New Zealand. Origin is acting as operator of the Kupe Gas Development on behalf of the joint venture formed with Genesis Energy, New Zealand Oil and Gas Limited and Mitsui E & P New Zealand Limited.

This contract will be executed in alliance with Origin and comprises the design, engineering, procurement, installation, construction, pre-commissioning and commissioning of:

-- An unmanned wellhead platform with capacity for up to 6 wells plus future satellites

-- A 12" multiphase pipeline to shore and umbilical from the platform to shore

-- A horizontal directionally drilled shore crossing (HDD)

-- Onshore processing facilities to meet the planned production rate of 70 Tj/d

-- An export pipeline for sales gas

-- Liquefied petroleum gas (LPG) and condensate loading bays

The project team will be based in Technip's offices in Perth (Western Australia) with detail design support from Technip's operations and engineering center in Kuala Lumpur (Malaysia).

The offshore work is scheduled to begin in the first quarter of 2007 with the platform installation. This will be followed in late 2007 by the rigid pipelay, using the Apache, a Technip vessel, and the diving support works using a vessel from the Technip Subsea 7 Asia Pacific Pty Ltd joint venture. The onshore processing facilities should commence commercial production no later than the first half of 2009.

With a workforce of more than 21,000 people, Technip ranks among the top five corporations in the field of oil, gas and petrochemical engineering, construction and services. Headquartered in Paris, the Group is listed in New York and Paris. The Group's main operations and engineering centers and business units are located in France, Italy, Germany, the UK, Norway, Finland, the Netherlands, the USA, Brazil, Abu-Dhabi, China, India, Malaysia and Australia. In support of its activities, the Group manufactures flexible pipes and umbilicals, and builds offshore platforms in its manufacturing plants and fabrication yards in France, Brazil, the UK, the USA, Finland and Angola, and has a fleet of specialized vessels for pipeline installation and subsea construction.

Source: Business Wire

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