Technip Awarded Two Contracts for the Jubilee Project in Ghana

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

Technip (Paris:TEC) (ISIN:FR0000131708) was awarded by Tullow Ghana Limited two contracts, worth approximately €100 million, for the Phase 1A of the Jubilee project. The Jubilee field is located offshore Ghana at a water depth of 1,300 meters.

These contracts cover full project management, engineering, fabrication and installation of a new flexible riser⁽¹⁾, two rigid flowlines⁽²⁾ and 11 spools/jumpers, as well as the installation of two manifolds and 5 kilometers of umbilicals⁽³⁾.

Technip’s operating center in Paris, France, will execute the project with the support of the Group offices in Houston, Texas, and Accra, Ghana. The flexibles will be fabricated at the Group's facility in Le Trait, France. This award thus demonstrates Technip’s ability to put in place a worldwide organization to the benefit of a project.

Offshore installation is scheduled to be completed with the Global 1200 and the Deep Pioneer, two vessels from Technip’s fleet, in the second half of 2012.

These contracts constitute a significant milestone for Technip's presence in Ghana. After the successful execution of the first phase of Jubilee completed in 2011, Technip is proud to have been selected by Tullow and its partners for this second phase.

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⁽¹⁾ Riser: a pipe or assembly of pipes used to transfer produced fluids and or products from the seabed to surface facilities, and transfer injection or control fluids from the surface facilities to the seabed.

⁽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 thermoplastic hoses which can also include electrical cables or optic fibers used to control subsea structures from a platform or a vessel.

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