PARIS–(BUSINESS WIRE)–Regulatory News:
Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) was awarded by Statoil ASA two lump sum contracts for infield pipeline construction for the Johan Sverdrup Development and the Oseberg Vestflanken 2 projects.
The Johan Sverdrup field is one of the largest oil fields in the North Sea and was discovered late 2011. The first development phase is targeted to be on-stream in 2019.
The Oseberg Vestflanken 2 project is a development of the oil and gas structures Alfa, Gamma and Kappa, approximately located at 8 kilometers northwest of the Oseberg field center.
The contracts awarded to Technip cover:
While both projects will be executed by Technip’s operating center in Lysaker, Norway, the Group will leverage its unique subsea integrated approach from fabrication to installation:
Odd Strømsnes, Managing Director of Technip in Norway, commented: “We are delighted to have been awarded these two prestigious contracts by Statoil in a very competitive business environment. This demonstrates Technip’s leading position in fabrication and installation of complex flowlines. We are looking forward to execute these projects collaboratively with Statoil in order to achieve the project goals.”
Fast facts about subsea products
– 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.
– Spoolbase: facility which is primarily used for the fabrication and spooling of rigid pipe onto vessels with Reel-lay capability. Technip owns and operates four rigid pipe spoolbase facilities located close to clients’ deepwater developments.
– More information on Technip’s spoolbases here: http://www.technip.com/en/our-business/fleet-facilities/spoolbases
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.