Technip Awarded Two Subsea Contracts in Canada
Technip Awarded Two Subsea Contracts in Canada
PARIS--(BUSINESS WIRE)-- Regulatory News:
Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) was awarded by Husky Oil Operations two contracts, with a combined substantial(1) value, for the planned subsea tieback of the South White Rose Extension field. The field is an extension of the White Rose field, located in the Jeanne d'Arc Basin, approximately 350 kilometers southeast of St. John's, Newfoundland and Labrador, Canada.
The first contract will be executed in 2013 and will include the supply and installation of gas injection flowlines(2), umbilicals(3) and subsea structures.
The second contract will take place in 2014 and will cover the supply and installation of flowlines and subsea structures to support oil production and water injection.
Technip's operating center in St. John's will perform the management and engineering of both projects, with various materials and equipment being supplied from within the Group and local supply chain.
Knut Boe, Senior Vice President of Technip's North Sea-Canada Region, commented: "These two awards reinforce Technip's continuous involvement in Atlantic Canada's offshore oil and gas projects. They also mark a new step in the relationship between Technip and Husky Oil Operations, for whom we successfully completed the subsea production system contract for the White Rose field development in 2005."
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(1) For Technip, a "substantial" subsea contract is ranging from €100 to €250 million.
(2) Flowline: a flexible or rigid 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.
(3) Umbilical: an assembly of steel tubes and/or hydraulic hoses which can also include electrical cables or optic fibres used to control subsea structures from a platform or a vessel.
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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 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).
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