Technip awarded substantial subsea contract for the Julia project in the Gulf of Mexico
PARIS--(BUSINESS WIRE)-- Regulatory News:
Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) was awarded a substantial(1) lump-sum contract by Exxon Mobil Corporation for the development of the Julia field. This field is located in the Walker Ridge area of the Gulf of Mexico, at a water depth of approximately 2,100 meters (7,200 feet).
The contract covers the project management, engineering, fabrication, installation and pre-commissioning of more than 48 kilometers of 10.75-inch outer diameter insulated flowlines(2), steel catenary risers(3) and flowline end terminations.
Technip's operating center in Houston, Texas, will perform the overall project management, with detailed flowline design being completed by Genesis, Technip's wholly-owned subsidiary. The flowlines and risers will be welded at the Group's spoolbase in Mobile, Alabama. The offshore installation is expected to be completed in 2015 by the Deep Blue, one of Technip's deepwater pipelay vessels.
David Dickson, Technip's Senior Vice President, North America Region, has declared: "Following the award of the Hadrian South natural gas project by Exxon Mobil Corporation in 2012, this new project further reinforces our leading position in the Gulf of Mexico ultra-deepwater market."
(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) Riser: a pipe or assembly of pipes used to transfer produced fluids from the seabed to the surface facilities or to transfer injection fluids, control fluids or lift gas from the surface facilities and the seabed.
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).
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
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