Technip and MMHE Confirm Their Support to PETRONAS for the Development of Block SK316
Technip and MMHE Confirm Their Supportto PETRONAS for the Development of Block SK316
PARIS--(BUSINESS WIRE)-- Regulatory News :
Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY), in a joint venture with Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE)(1), has received confirmation from PETRONAS Carigali for a substantial(2) engineering, procurement, construction, installation and commissioning (EPCIC) contract for the development of two gas fields in Block SK316. Those fields are located approximately 180 kilometers North of Bintulu, Sarawak, at a water depth of 104 meters.
The Technip-MMHE joint venture had earlier participated in the front-end engineering design competition with subsequent rollover to EPCIC execution.
The EPCIC contract includes a central processing platform and a bridge-linked wellhead platform, which will be constructed at MMHE's fabrication yard at Pasir Gudang in Johor, Malaysia, as well as a 75-kilometer pipeline, which will be installed by one of Technip's pipe-laying vessels.
(1) MMHE is a wholly-owned subsidiary of Malaysia Marine and Heavy Engineering Holdings Berhad (MHB).
(2) For Technip, a "substantial" offshore contract is ranging from €250 to €500 million (Technip's part of the contract).
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 38,000 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 traded in the USA on the OTCQX marketplace (OTCQX: TKPPY).
Malaysia Marine and Heavy Engineering Holdings Berhad (MHB) is a leading marine and heavy engineering services provider in the South-east Asia region; focused primarily on the oil and gas sector. MHB offers a wide spectrum of offshore solutions which include offshore construction, offshore conversion; and marine repair services at its two yards in Pasir Gudang, Johor, Malaysia. The yards can accommodate the fabrication of large marine structures with a total tonnage of 129,700 MT; and are also equipped with two dry docks accommodating vessels up to 450,000 deadweight tonnes (dwt). Visit MHB at: www.mhb.com.my
Christophe Bélorgeot, Tel. +33 (0) 1 47 78 39 92
Investor and Analyst Relations
Kimberly Stewart, Tel. +33 (0) 1 47 78 66 74
David Tadbir, Tel. +33 (0)1 40 90 19 04
KEYWORDS: Malaysia Europe Asia Pacific France
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