Technip Awarded Contract for the Karbala Refinery in Iraq

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Technip Awarded Contract for the Karbala Refinery in Iraq

PARIS--(BUSINESS WIRE)-- Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) was awarded by Oil Projects Company - SCOP(1) a significant contract(2) for project management consultancy (PMC) services for the engineering, procurement and construction (EPC) phase of the Karbala refinery, Iraq. This award follows the front-end engineering design executed by Technip in 2010.

The scope of work will cover two phases:

  • phase 1: issue of enquiries for the EPC contract, bids clarification, evaluation and contracts finalisation with the EPC contractors,
  • phase 2: overall management of the EPC contract execution.

Technip's operating center in Milton Keynes, United Kingdom will execute phase 1 of the project, which is scheduled to be completed in the second semester of 2013.

Riccardo Moizo, Technip's Senior Vice President for PMC, stated: "We are delighted to have been awarded this project by SCOP and to participate in developing and enhancing Iraq's refinery capabilities. This is a significant contract for Technip's newly created PMC business unit and we believe it will open up opportunities in the near future."


(1) A company of Iraq's Ministry of Oil.

(2) For Technip, a "significant" onshore contract is ranging from €50 to €100 million.


° °

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 36,500 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 the USA over-the-counter (OTC) market as an American Depositary Receipt (ADR: TKPPY).

Public Relations
Christophe Bélorgeot, +33 (0) 1 47 78 39 92
Floriane Lassalle-Massip, +33 (0) 1 47 78 32 79
Investor and Analyst Relations
Kimberly Stewart, +33 (0) 1 47 78 66 74

KEYWORDS:   Europe  France  Middle East  Iraq


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