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Technip Awarded Contract for the Yme Field Re-Development Project in Norway

Posted on: Tuesday, 5 June 2007, 03:05 CDT

Regulatory News:

Technip (Paris:TEC) (NYSE:TKP) (ISIN:FR0000131708) has been awarded by Talisman Energy a turnkey contract, worth approximately €110 million, for the Yme field re-development. This field, located 100km offshore Norway, is today operated by Talisman Energy.

The contract covers:

engineering, procurement, fabrication and installation of 36km of production, water injection and service rigid flowlines(1),

installation of umbilicals(2), spools(3), subsea protection structures, a manifold, and

tie-in, trenching, rock dumping and pre-commissioning.

Technip's operations and engineering center in Oslo (Norway) will execute the contract. The flowlines will be welded at one of Technip's spoolbases. The Apache, a pipelay vessel from Technip's fleet specialized in the reel lay method, will install the flowlines with support from other Group vessels. Offshore installation is scheduled for 2008 and 2009.

(1) 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 meters to several kilometers.

(2) 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.

(3) Spool: short length pipe connecting a subsea pipeline and a riser, or a pipe and a subsea structure.

With a workforce of 22,000 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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