TECHNIP : Awarded Contract for Ichthys FPSO Unit

Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708) was awarded a services contract for the Ichthys floating production storage and offloading (FPSO) unit. The FPSO unit will be located in the Browse Basin, Western Australia, at a water depth of 250 meters. Technip will provide these services to Daewoo Shipbuilding & Marine Engineering (DSME).

This contract covers detailed engineering and procurement assistance for the topsides⁽¹⁾ facilities of the 1.2 million barrels storage capacity Ichthys FPSO.

The Ichthys LNG project is a joint venture between INPEX⁽²⁾ (operator) and Total. Gas from the Ichthys Field, in the Browse Basin approximately 200 kilometers offshore Western Australia, will undergo preliminary processing offshore to remove water and extract condensate. The condensate will be pumped to the FPSO facility anchored nearby, from which it will be transferred to tankers for delivery to markets. The gas will then be exported to onshore processing facilities in Darwin via an 889 kilometers subsea pipeline. The Ichthys LNG project is expected to produce 8.4 million tonnes of LNG and 1.6 million tonnes of LPG per annum, along with approximately 100,000 barrels of condensate per day at peak.

Technip's operating center in Kuala Lumpur, Malaysia, will execute the project.

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⁽¹⁾ Topsides: surface installations allowing the drilling and/or production and/or processing of offshore hydrocarbons.

⁽²⁾ Tokyo-based INPEX, a worldwide oil and gas exploration and production company, is the operator of the Ichthys field with a 76% interest. The remaining 24% interest is held by Total E&P Australia.

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