Regulatory News :
Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) announces that its wholly-owned subsidiary DUCO Ltd was awarded an important contract (1) by Total Upstream Nigeria Ltd to supply umbilicals (2) to the Egina field offshore Nigeria. This field is situated within the Oil Mining Lease 130, approximately 200 kilometers from Port Harcourt, at water depths ranging from 1,150 to 1,750 meters.
The contract covers Project Management, Engineering and Manufacture of about 76 kilometers of steel tube umbilicals including production, water injection and subsea isolation valve (SSIV) umbilicals.
As part of project execution activities, significant amounts of project management (80%) and engineering (30%) will be carried out locally in Nigeria. The umbilicals will be manufactured in their entirety at DUCO’s facility in Newcastle upon Tyne, United Kingdom. The project is scheduled for delivery in 2016.Jean-Louis Rostaing, Managing Director of DUCO, declared: “ This award is recognition of the quality and performance of the umbilicals provided by Technip as well as our ability to continuously innovate to better answer our clients’ needs. We are proud to have been awarded this contract, notably thanks to our strong relationship with the client and our ability to contribute to Nigerian content development.” ____ (1) For Technip, an “important” subsea contract is ranging from €50 to €100 million. (2) 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. ° ° ° 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 36,500 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: TKPPY).