Technip (TKPPY: OTCQX International Premier) | Technip awarded subsea contract for the Glenlivet project, West of Shetlands, UK

OTC

Technip awarded subsea contract for the Glenlivet project, West of Shetlands, UK

Feb 24, 2015

OTC Disclosure News Service

Regulatory News:

Building on the previous
award by Total EP UK
of the contract for the Edradour Subsea
Development, located approximately 75 km North West of Shetlands in the
UK waters, Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) has been
awarded an additional scope for the parallel development of the
Glenlivet field located nearby.

The Glenlivet specific scope includes:

  • fabrication and installation of 12″ production pipeline and 6″ MEG(1)
    pipeline complete with a 2″ piggy backed service line,
  • supply and installation of steel tube umbilical, manufactured at
    Technip Umbilicals facility in Newcastle, UK,
  • supply and installation of flexible tails from Flexi France, the
    Group’s manufacturing plant in Le Trait, France,
  • fabrication and installation of pipeline end manifold, flowline end
    terminations, flexible tails and rigid well tie-in spools, as well as
    the installation of CPI(2) templates and manifolds,
  • rock dumping and pre-commissioning.

The Group will leverage its unique vertical position in the subsea
business:

  • Technip’s operating center in Oslo, Norway, will execute the project
    in full synergy with the previously awarded Edradour project.
  • Vessels from the Group fleet will perform the installation in the
    summer seasons of 2016 and 2017.
  • The pipelines will be fabricated at Technip’s spool base at Evanton,
    UK, and installed by Technip’s vessel Deep Energy.
  • Umbilicals will be manufactured at the new Technip umbilicals facility
    in Newcastle, UK.

Knut Boe, President North Sea Canada, stated: “It is very good to see
the benefits of the synergies between these two projects being realized
by Total’s award of this extra scope to Technip.

(1)MEG: Mono-ethylene glycol, used to control hydrate
formation in production fluids.
(2)CPI: Company Provided
Item

Fast Facts

About subsea products

  • Umbilical: an assembly of steel tubes and/or thermoplastic
    hoses which can also include electrical cables or optic fibers used to
    control subsea structures from a platform or a vessel. Umbilical
    systems are the critical link in subsea operations, relaying power,
    communications and chemicals between hydraulic-operated equipment on
    the seafloor and a platform or support vessel.
  • Manifold: a piece of pipe with several lateral outlets and/or
    inlets for connecting one pipe with others.
  • 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 metres to several kilometers.
  • Spool: short length pipe connecting a subsea pipeline and a
    riser, or a pipe and a subsea structure.

About Technip Umbilicals’ new plant in Newcastle

  • Inaugurated in May 2014.
  • One of the world’s most advanced steel tube umbilical
    manufacturing system, reinforcing Technip’s position as a key subsea
    player.
  • Allows Technip Umbilicals to access the full market and maximize its
    steel tube offer to meet the growing demand of the subsea sector.

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 38,000 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 Euronext Paris exchange and traded in
the USA on the OTCQX marketplace (OTCQX: TKPPY).

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