PARIS–(BUSINESS WIRE)–Regulatory News:
Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) has been awarded a lump sum contract by Deep Gulf Energy III, LLC (“DGE”) for the development of the South Santa Cruz and Barataria fields. These ultra-deepwater fields are located in Mississippi Canyon, offshore New Orleans, in the Gulf of Mexico, in approximately 2,000 meters of water depth.
The contract consists of:
Covering all aspects of the field development from engineering to design, manufacturing and installation, this new award highlights Technip’s unique vertical integration in the subsea business environment.
Technip’s operating center in Houston, Texas, USA, will manage the overall project. The flowline system will be fabricated at the Group’s spoolbase in Mobile, Alabama, USA. The offshore installation is expected to be performed in the second half of 2016 by Technip’s vessel the Deep Blue, the Group’s flagship vessel for deepwater pipelay.
Deanna Goodwin, President of Technip in North America commented: “This contract award by DGE is a testament to their continued trust in Technip’s execution expertise and asset capabilities. I am pleased that this award comes in conjunction with the successful completion of the Kodiak project and with the recent award of the Odd Job project. This will allow us the opportunity to further strengthen the relationship with our client into 2016.”
Fast facts about subsea products
– Pipe-in-pipe flowline: steel pipes assembly consisting of a standard production pipe surrounded by a so-called carrier pipe. The gap between the carrier and production pipes is filled with an insulation material.
– 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.
– Jumper: a short section of pipe for the connection of two subsea structures.
– Flowline end termination: a subsea structure which connects rigid flowline and flexible riser.
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 36,000 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) as American Depositary Receipts.