Technip Awarded Contract For the Åsgard Gas Transfer Project in Norway

Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708) has been awarded by Statoil ASA an engineering, procurement, construction and installation lump sum contract, worth in excess of €23 million, for the Åsgard Gas Transfer Project⁽¹⁾. The Åsgard field is located on the Norwegian Continental Shelf at a water depth of 300 meters.

The contract covers fabrication and installation of an approximately 4 kilometer-long rigid flowline⁽²⁾ in 2010 and the replacement of two flexible risers⁽³⁾ in 2011.

The contract will be executed by the Group's operating center in Oslo, Norway. The flowline fabrication will be executed by the Technip spoolbase in Orkanger while installation will be performed by the newly converted Apache II. The marine operations in 2011 will be from Skandi Arctic.

⁽¹⁾ The Production Licence No PL 094 Owner Group consists of Statoil ASA (operator), ExxonMobil E&P Norway, ENI, Total and Petoro.

⁽²⁾ Flowline: a pipe, laid on the seabed, which allows the transportation of oil/gas production or injection of fluids. Its length can vary from a few hundred meters to several kilometers.

⁽³⁾ Riser: a pipe or assembly of pipes used to transfer produced fluids from the seabed to surface facilities, and transfer injection or control fluids from the surface facilities to the seabed.

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Technip is a world leader in the fields of project management, engineering and construction for the oil & gas industry, offering a comprehensive portfolio of innovative solutions and technologies.

With 23,000 employees around the world, integrated capabilities and proven expertise in underwater infrastructures (Subsea), offshore facilities (Offshore) and large processing units and plants on land (Onshore), Technip is a key contributor to the development of sustainable solutions for the energy challenges of the 21^st century.

Present in 46 countries, Technip has operating centers and industrial assets (manufacturing plants, spoolbases, construction yard) on five continents, and operates its own fleet of specialized vessels for pipeline installation and subsea construction.

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