PARIS--(BUSINESS WIRE)--Regulatory News:
Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) was awarded by Qatar Petroleum an engineering, procurement, installation and commissioning contract for a strategically important* Offshore Project comprising a living quarter platform and an utility platform, with a bridge connecting the two platforms. The project location is within QP offshore facilities.
Technip will be responsible for the execution of the entire Project. The topsides for both platforms will be installed using the floatover technology, which Technip pioneered. This installation method enables large integrated topsides to be installed, thereby minimizing offshore hook-up and commissioning, without the use of large crane vessels.
Technip’s operating center in Abu Dhabi, United Arab Emirates, with the support from the Group’s operating centers in Paris, France and Doha, Qatar will execute the project.
Vaseem Khan, Senior Vice President of Technip in the Middle East, declared: “This contract reflects the growing interest for the floatover technology, by allowing a safe project execution in a time and cost-effective way while overcoming heavy-lift challenges. With this strategic project, we have the opportunity to further consolidate our presence in Qatar and to strengthen our relationship with Qatar Petroleum. It will also help us establish Technip as a leading Company in the region for executing offshore living quarter platform projects.”
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* For Technip, an “important” offshore contract is ranging from €100 to €250 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 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).
