Technip Awarded Renewal of Subsea Services Framework Agreement with Statoil, Exxon Mobil & Gassco

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

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) was awarded a new framework agreement by Statoil, Exxon Mobil and Gassco for diving, subsea intervention and repair contingency services. Under the terms of this framework agreement, a replacement of an existing frame agreement held for eight years, Technip will provide these services for the next four years. This contract, effective from December 1^st 2014, also includes an option for additional periods up to seven years.

• The services comprise diving and remote operations using the Group’s dedicated diving support vessels (DSVs) and/or construction vessels.
• The area of operation includes continental areas from the Barents Sea to the Mediterranean Sea, the Baltic Sea and North Atlantic Ocean as well as Newfoundland, Canada. The area of operation may be extended globally based on Statoil's future requirements.

Technip’s operating center in Stavanger, Norway, will administrate and execute the projects under this framework agreement, supporting Statoil on demanding projects requiring saturation diving, air diving and/or equipment spreads from the Pipeline Repair System (PRS) Pool.

Odd Strømsnes, Managing Director of Technip in Norway, states: “This framework agreement will enable us to consolidate our excellent relationship with Statoil. We are proud to provide our services to all members of the PRS Pool for the maintenance of underwater pipelines, requiring advanced technology. With both DSV and construction vessels currently under construction, Technip maintains its commitment to developing a world-class fleet to support Statoil and other operators combining diving and ROV operations.”

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Fast Facts   Pipeline Repair System: this system comprises a wide range of equipment for pipeline repair, both manned and remotely operated, including automatic welding machines, habitats, hot tap units, concrete removal tools, etc. The PRS is managed by Statoil on behalf of the members of the PRS Pool. ROV (Remotely Operated Vehicle): an unmanned subsea vehicle, remotely controlled from a vessel or an offshore platform. It is equipped with manipulator arms, which enable it to perform simple operations.

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Technip is a world leader in project management, engineering and construction for the energy industry.
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