Technip awarded contract for two hydrogen reformers in Venezuela


Technip awarded contract for two hydrogen reformers in Venezuela

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

Technip (Paris:TEC) (OTCQX: TKPPY) was awarded by the Hyundai-Wison consortium(1) a significant(2) contract to supply its proprietary technology as well as engineering and procurement services for two hydrogen reformers in Venezuela. These 135-million standard cubic feet per day (151-thousand normal cubic meters per hour) reformers are part of the Deep Conversion project being executed by the consortium for Venezuela's state oil company, Petroleos de Venezuela SA (PDVSA), to upgrade the Puerto La Cruz refinery.

The contract covers the complete engineering, fabrication, modularization, procurement as well as pre-commissioning and start-up assistance. This project will utilize Technip's high-efficiency top-fired steam reformers, to produce high-purity hydrogen and export steam, and the latest nitrogen oxide reduction technology to ensure minimum emissions.

Technip's operating center in Claremont, California will execute the contract, which is scheduled for completion in the second semester of 2014.

Stan Knez, Technip's Senior Vice President Process Technology, commented: "We are delighted to have been awarded this project, which will utilize our state-of-the-art proprietary technology, after successfully completing the basic design package for these hydrogen plants. Hydrogen is the most widely used industrial gas in the refining, chemical and petrochemical industries and this contract further solidifies our position of market leader in this sector."


(1) The consortium includes Hyundai Engineering & Construction Co. Ltd., Hyundai Engineering Co. Ltd. and Wison Engineering Ltd.

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

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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).

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: United States Venezuela Europe North America South America France New York


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