Technip (TKPPY: OTCQX International Premier) | ADMA-OPCO Selects Technip for Project Management Consultancy Services for the Nasr Phase II Full Field Development Project

ADMA-OPCO Selects Technip for Project Management Consultancy Services for the Nasr Phase II Full Field Development Project

Nov 14, 2014

OTC Disclosure News Service

Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) was awarded by Abu
Dhabi Marine Operating Company (ADMA-OPCO) a contract for project
management consultancy (PMC) services for the engineering, procurement
and construction (EPC) works of the Nasr Phase II Full Field Development
project – Packages 1, 2 3.

The Nasr Phase II Full Field Development project serves ADMA-OPCO’s
overall strategic objective for the midterm total sustainable production
target. The Nasr field is being developed to secure an annual average
production of 65Kb/d of crude oil by using offshore process facilities,
wellheads, pipelines and facilities on Das Island.

The scope of work covers the overall management of the EPC phases under
execution in United Arab Emirates, Singapore and South Korea. Technip
PMC
will execute the project, which is scheduled to be completed in
2019.

Vaseem Khan, President of Technip in the Middle East, commented: “This
contract is a significant achievement and it reflects ADMA-OPCO’s trust
in our capabilities in delivering key projects for them. Our association
with the Nasr Full Field Development continues from the FEED
(1)
phase where Technip was the PMC contractor. This new award continues to
reinforce Technip’s positioning on PMC activities, leveraging its
long-lasting experience in executing complex projects”.

Riccardo Moizo, Senior Vice President of Technip PMC, stated: “We are
very proud to have been awarded this contract and we are looking forward
to assisting ADMA-OPCO in the development of this complex project. This
award consolidates Technip’s position as one of the top-tier Project
Management Consultancy companies worldwide.

This new contract follows the award
related to Zakum field
and reflects Technip’s ability to work early
with its clients to design effective project execution schemes.

(1)Front End Engineering Design

Fast facts about Technip PMC:

  • Technip PMC is an organization with a management team dedicated and
    focused on the provision of PMC services to deliver projects worldwide.
  • It helps clients to achieve their investment objectives and deliver
    their projects, by offering Project Management Consultancy (PMC)
    services from the definition to the operational phases.
  • Technip is a project management specialist, having carried out some of
    the world’s most complex EPC projects. From the technology and
    licensor selection phase to the management of multinational consortia
    in the execution and successful delivery of world-scale, lump-sum
    turnkey projects, Technip has not only developed efficient processes,
    procedures and tools, but also operational and effective project
    management skills at all levels.

More information here: http://www.technip.com/sites/default/files/technip/publications/attachments/PMC_March_2014_V6_web.pdf

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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 almost 40,000 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 traded
in the USA on the OTCQX marketplace (OTCQX: TKPPY).

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Article source: http://www.otcmarkets.com/stock/TKPPY/news?id=91651

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