Technip Awarded Substantial Contract for the Phase 2 of The GirRI Project in Angola

Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708) was awarded by Total E&P Angola an engineering, procurement, construction and commissioning (EPIC) contract for the second phase of the Girassol Resources Initiatives (GirRI) development project. The field is located 210 kilometers offshore Angola, at a water depth of 1,300 meters.

The contract covers the project management, engineering, fabrication and installation of:

• 21 kilometers of umbilicals⁽¹⁾,
• 13 kilometers of interconnecting power cable between the Dalia and the Girassol floating production storage and offloading units (FPSO), both delivered by Technip,
• the recovery and disposal of four rigid spools⁽²⁾,
• the installation of eight new flexible spools.

Technip Angola Engenharia⁽³⁾ will share responsibility for the overall project management and engineering of this subsea project with Technip UK. Various steel structures will be fabricated by the Angoflex⁽³⁾ spoolbase in Dande, Angola. The flexible spools will be fabricated at Technip’s manufacturing plant in Le Trait, France. The offshore campaign is scheduled for the end of 2014, with the main installation vessel being from Technip's fleet.

After the successful completion of the first phase of the GirRI development project in 2012, Technip is proud to have been awarded the second phase of this project by Total E&P Angola and its partners.

Jean-Marc Aubry, Senior Vice President of Technip Region A⁽⁴⁾ declared: "This contract is a significant milestone as it demonstrates Technip’s capabilities to execute a subsea project from Luanda, Angola. It is thus completely in line with Technip and its partners’ objectives to maximize the Angolan national content.”

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⁽¹⁾ Umbilical: an assembly of steel tubes and/or hydraulic hoses which can also include electrical cables or optic fibres used to control subsea structures from a platform or a vessel.

⁽²⁾ Spool: short length pipe connecting a subsea pipeline and a riser, or a pipe and a subsea structure.

⁽³⁾ Angoflex and Technip Angola Engenharia are joint ventures between Technip and Sonangol.

⁽⁴⁾ Technip Region A is composed of Western Europe, Africa, India and Pakistan.

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 32,000 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 the USA over-the-counter (OTC) market as an American Depositary Receipt (ADR: TKPPK).

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