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4-Traders Homepage  >  Equities  >  Euronext Paris  >  Technip    TEC   FR0000131708

TECHNIP (TEC)

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TECHNIP : awarded a key engineering contract for Mad Dog Phase 2 in the Gulf of Mexico

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04/30/2012 | 07:05am CET

Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708) was awarded a front end engineering design (FEED) contract by BP Exploration & Production Inc. This contract covers the design of a Spar* hull and mooring systems for the Mad Dog Phase 2 Project, located near Green Canyon Block 825 in the Gulf of Mexico.

This first award comes under the framework of the 10-year Spar platform master services agreement signed in 2011.

The Mad Dog Phase 2 Spar will be located near the first Mad Dog Spar delivered by Technip for BP in 2004, and installed on Green Canyon 782. Detailed engineering for the new Spar is scheduled to start during the second half of 2012.

Technip's operating center in Houston, Texas, will execute the contract with support from the center in Pori, Finland.

* Spar: a cylindrical, partially submerged offshore drilling and production platform that is particularly well-adapted to deepwater.

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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 30,000 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).

Technip
Public Relations
Christophe Bélorgeot, +33 (0) 1 47 78 39 92
Floriane Lassalle-Massip, +33 (0) 1 47 78 32 79
press@technip.com
or
Investor and Analyst Relations
Kimberly Stewart, +33 (0) 1 47 78 66 74
kstewart@technip.com
or
Apollinaire Vandier, +33 (0) 1 47 78 60 74
avandier@technip.com
http://www.technip.com


© Business Wire 2012
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Average target price 65,5 €
Spread / Average Target -2,9%
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