Regulatory News:
Technip Energies (PARIS: TE) and National Petroleum Construction Company (NPCC), a subsidiary of National Marine Dredging company, have signed a Memorandum of Understanding (MoU) to advance energy transition in United Arab Emirates (UAE) and other countries in the MENA region.
The MoU was signed at the GASTECH conference on Sept. 21, by NPCC CEO Eng Ahmed Dhaheri and Technip Energies CEO Arnaud Pieton in the presence of senior officials of both companies.
With the commitment to energy transition and decarbonization, there is an unprecedented momentum in the industry for clean energy. The aim of this agreement is to explore and capitalize on this evolving opportunity and to provide added value services. Technip Energies and NPCC will create a Joint Venture (JV) to drive the energy transition journey.
With more than three decades of existing collaboration, both entities will bring complementary added-value to the JV. While Technip Energies will bring its technological know-how, overall project management capabilities and innovative solutions from early stage to project delivery, NPCC will bring its project management skills for EPC projects, its regional footprint and its fabrication capabilities.
The strategic partnership will focus on capturing opportunities in energy transition and on fostering the best engineering practices. It will also enhance cooperation in blue and green hydrogen and related decarbonization projects, CO2 capture in addition to industrial projects in the fields of waste-to-energy, biorefining, biochemistry, ammonia as well as other energy transition related themes.
Arnaud Pieton, CEO of Technip Energies, said: "We are proud to have signed this partnership with NPCC, a long standing and trusted partner with whom we have executed several landmark projects. We have always believed in sharing technical knowledge, technologies and competencies that would contribute to the overall growth and wellbeing of host countries and followed the path of creating In Country Value. This partnership will encompass the right mix of identification capability for concrete opportunities like CO2 capture, blue/green hydrogen and ammonia, of technology know-how, technical capabilities, global and local execution experience and financial strength for providing holistic solutions to accelerate the transition towards a low-carbon society."
Yasser Zaghloul, Group CEO of NMDCdeclared: "The UAE is committed to taking positive climate change action and drive a robust energy transition strategy for a decarbonized future. This calls for concerted efforts by all organizations to take step up measures to reduce carbon emissions through technologies such as carbon capture and tapping the potential of hydrogen. As a national champion company committed to the nation's goals, NMDC's subsidiary NPCC is strengthening efforts to support the nation and the region in energy transition initiatives. The partnership with Technip Energies will further accelerate this."
Eng Ahmed Dhaheri, CEO of NPCCsaid "Aligned with the market and policy trends, NPCC aims to be a leader in meeting the end-to-end EPC requirements of the energy sector while promoting a culture of sustainability. Having committed to promoting environment best practices, we will continue to focus on strengthening our energy transition strategies through our MoU with Technip Energies, a partner of choice of NPCC for their expertise in the field. We share over three decades of cooperation on numerous mega projects and will continue to share best practices. This strategic MoU will not only accelerate our decarbonisation commitment but also support the nation's climate change action initiatives and the long-term sustainable development vision."
About Technip Energies
Technip Energies is a leading Engineering Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client's innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts ("ADRs") traded over-the-counter in the United States.
For further information: www.technipenergies.com.
About NPCC
NPCC (National Petroleum Construction Company), headquartered in Abu Dhabi in the United Arab Emirates (UAE), is a world-class Engineering, Procurement and Construction Company that provides total EPC solutions to both the Offshore and Onshore Oil Gas sectors.
NPCC is a subsidiary of National Marine Dredging, NPCC provides engineering, procurement, project management, fabrication, installation and commissioning to project owners and operators.
Since its inception in 1973, NPCC has expanded its geographic footprint globally and today operates in Arabian Gulf, South Asia and South East Asia, and has plans to expand its operations to Africa and Caspian region.
NPCC has built strong relationships with leading Operating Companies (OPCOs), National Oil Companies (NOCs) and International Oil Companies (IOCs), and has a team of over 1,200
engineers, based in four engineering centres in Abu Dhabi UAE, Mumbai and Hyderabad India, and La Ciotat France.
NPCC's state-of-the-art fabrication facility in Mussafah, Abu Dhabi, is set in an area of 1.3 million sq. metres, and the yard can fabricate up to 100,000 metric tonnes (MT) of structural steel annually. The company owns a fleet of 23 offshore vessels equipped with modern facilities to support its shallow and deep-water operations. It can lift structures weighing up to 4,200 MT and is also equipped for laying sub-sea cables and pipelines, up to 66 inches diameter; in water depths from 10 to 2,000 metres.
As of March 2019, NPCC executed more than 1,216 EPC projects, laid over 6,261 km of pipeline and 1,515 km of subsea cables as well as installed more than 1,360 structures.
Important Information for Investors and Securityholders
Forward-Looking Statement
This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies' operations or operating results. Forward-looking statements are often identified by the words "believe," "expect," "anticipate," "plan," "intend," "foresee," "should," "would," "could," "may," "estimate," "outlook," and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies' current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.
All of Technip Energies' forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies' control) and assumptions that could cause actual results to differ materially from Technip Energies' historical experience and Technip Energies' present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements.
For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies' risk factors set forth in Technip Energies' filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies' registration statement on Form F-1 filed on February 11, 2021.
Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.
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