PARIS--(BUSINESS WIRE)--Regulatory News:
Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY):
The joint venture formed by Technip (50%) and DOF (50%) was awarded by Petróleo Brasileiro S.A. (Petrobras) eight contracts. These contracts cover the construction of four new pipelay support vessels (PLSVs) and operation in Brazilian waters to install flexible pipes. The combined value for Technip is approximately €1.35 billion.
Two of the PLSVs will have a 300-ton laying tension capacity and will be fabricated in Brazil with a high national content. The other two vessels will be designed to achieve a 650-ton laying tension capacity, thus enabling the installation of large diameter flexible pipes in ultra-deepwater environments, such as the Brazilian pre-salt. Vard Holdings Limited (“VARD”), one of the major global designers and shipbuilders of offshore and specialized vessels, will be in charge of the design and construction of the four PLSVs.
Under the Technip/DOF joint venture agreement, Technip will manage flexible pipelay and DOF will be responsible for marine operations. Delivery of the PLSVs is scheduled for 2016-2017. Contracts will last eight years from start of operations, and could be renewed for another eight-year period.
Frédéric Delormel, Technip’s Executive Vice President and Chief Operating Officer Subsea, declared: “This strategic contract reinforces our subsea leadership in Brazil and our long-term relationship with Petrobras. We are confident that these new state-of-the-art PLSVs, including two with the most important flexible pipelay tension capacity in the world - 650 tons - will be key assets for our client to successfully achieve its projects offshore Brazil.”
Mons S. Aase, DOF’s Chief Executive Officer, added: “The contracts confirm that our co-operation with Technip on the Skandi Vitória and Skandi Niterói has been successful, and reinforces our position as a leading provider of offshore vessels to the Brazilian O&G industry. It comes as a result of our long-term focus on the Brazilian market and is an acknowledgment of the expertise of our people.”
Roy Reite, VARD’s Chief Executive Officer and Executive Director commented: “I look forward to working with Technip and DOF on these milestone projects. VARD yards both in Europe and Brazil being chosen to build these vessels illustrates the value of having a global presence when working with international clients, and bringing leading edge technology to new markets.”
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About Technip
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).
www.technip.com
About DOF
With a multi-national workforce in excess of 4,000
personnel, the DOF Group is a global group of companies which owns and
operates a fleet of more than 70 modern offshore and subsea vessels, and
has the engineering capacity to service both the offshore and subsea
market. With over 30 years in the offshore business, the Group has a
strong position in terms of experience, innovation, product range,
technology and capacity.
The DOF Group's core businesses are vessel
ownership, vessel management, project management, engineering, vessel
operations, survey, remote intervention and diving operations primarily
for the oil and gas sector. From PSV charter to Subsea engineering, DOF
offers a full spectrum of top quality offshore services to facilitate an
ever-growing and demanding industry. The Group's main operation centers
and business units are located in Norway, the UK, the USA, Brazil,
Argentina, Egypt, Angola, Singapore and Australia.
DOF ASA shares
are listed on the Oslo Stock Exchange (DOF).
About VARD
Vard Holdings Limited (“VARD”), together with its
subsidiaries (the “Group”), is one of the major global designers and
shipbuilders of offshore and specialized vessels used in the offshore
oil and gas exploration and production and oil services industries.
Headquartered in Norway and with 10,000 employees, VARD operates ten
strategically located shipbuilding facilities, including five in Norway,
two in Romania, two in Brazil and one in Vietnam.
VARD’s long
shipbuilding traditions, cutting-edge innovation and technology coupled
with its global operations ensure access to the fastest growing oil
exploration markets. The Group’s expertise and track record in
constructing complex and highly customized offshore and specialized
vessels have earned it recognition from industry players and enabled it
to build strong relationships with its customers.
VARD was listed
on the Main Board of the Singapore Exchange on 12 November 2010.
Majority shareholder Fincantieri Oil & Gas S.p.A., a wholly owned
subsidiary of Fincantieri – Cantieri Navali Italiani S.p.A., owns 55.63%
in the Group. Headquartered in Trieste, Italy, Fincantieri is one of the
world’s largest shipbuilding groups and has, over its 200 years of
maritime history, built more than 7,000 vessels.
www.vard.com
