Technip awarded subsea contract for the Snøhvit CO2project in Norway
PARIS--(BUSINESS WIRE)-- Regulatory News:
Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) was awarded by Statoil ASA an important(1) lump sum contract for pipelay and subsea installations for the Snøhvit CO2 Solution project. The Snøhvit field is located approximately 140 kilometers north-west of Hammerfest in Norway, in the Arctic Circle, and has been in operation since 2007, following the successful installation of the subsea infrastructure by Technip.
The production of natural gas of this field is based on CO2being separated at the Melkøya onshore plant and re-injected into the field. The Snøhvit project development will establish an additional well at a new CO2 injection template(2) as well as prepare for gas production from existing templates.
This contract covers:
fabrication and installation of flowlines(3), including two 5-kilometer 13% chrome stainless steel production flowline and a 5-kilometer CO2 injection flowline,
installation and tie-ins of spools, jumpers and umbilicals(4),
installation of a new combined production and injection template and manifold(5).
It will be executed by Technip's operating center in Oslo, Norway. The flowline will be welded at Technip's spoolbase in Orkanger, Norway, while installation will be performed by the Apache II in the first half of 2015. Installation of the associated umbilicals, template, manifold, spools and other subsea equipment will be performed by vessels from Technip's fleet.
Odd Strømsnes, Managing Director of Technip in Norway, stated: "This award confirms Technip's leading position as the contractor of choice for marine installation projects in the Arctic. It also demonstrates our unique abilities when it comes to the fabrication and complex reeling of larger diameter stainless steel flowlines."
(1) For Technip, an "important" subsea contract is ranging from €50 to 100 million.
(2) Template: a steel protection structure with integrated manifolds and wellheads
(3) 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 metres to several kilometers
(4) Umbilical: an assembly of thermoplastic and steel tube hoses which can also include electrical cables or optic fibres used to control subsea structures from a platform or a vessel
(5) Manifold: a piece of pipe with several lateral outlets and/or inlets for connecting one pipe with others.
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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