PARIS–(BUSINESS WIRE)–Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) has signed a four years extension of its five-year initial contract signed in January 2011 with Petrobras S.A. for its Flexible Pipes Logistic Base (BAVIT), located in Vitória, Brazil.

The scope covers storage, handling, inspection, testing, load-out (two simultaneous vessel load-out points), internal cleaning and maintenance of flexibles pipes. The base has a 300t handling capacity, storage capacity for 220 reels and serves as the main load-out point for all pre-salt flexible pipes.

Adriano Novitsky, President of Technip in Brazil, commented: “Technip is very proud of this contract. In 2016, the logistic base has reached the significant milestone of eight years of operation without lost time injury. This achievement demonstrates that the culture of HSE has become sustainable and the renewal of this contract is a demonstration that we have been performing as expected by our client, ensuring high standards of quality and safety in the operations.”

This award recognizes Technip’s position in Brazil leveraging its full integration which covers engineering, fabrication, logistic and installation.

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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 close to 34,400 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges.

Present in 45 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 its ADR is traded in the US on the OTCQX marketplace as an American Depositary Receipt (OTCQX: TKPPY).