This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Technip Awarded Subsea Contract By Chevron North Sea

Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) was awarded by Chevron North Sea Ltd a substantial (1) engineering, procurement, installation and construction (EPIC) contract for the Alder field. Chevron is developing the Alder field as a subsea tieback to the Britannia Bridge Link Platform (BLP). This field is located in the central North Sea, about 200 kilometers North-East of Aberdeen, Scotland, at a water depth of approximately 150 meters.

The contract will cover a wide scope of work, from engineering to manufacturing and installation:

  • the detailed design and pipelay of a 28-kilometer 16” pipe-in-pipe system,
  • the installation of a 28-kilometer hybrid umbilical (2),
  • various subsea works including the installation of a manifold (3) structure including HIPPS (4), subsea isolation valve structure, valves and spoolpiece (5) components.

Technip’s operating center in Aberdeen will execute the contract, which is scheduled to be completed in the second semester of 2015. Genesis (6) will complete the detailed design workscope and Technip’s spoolbase in Evanton, Scotland, will fabricate the pipe-in-pipe. DUCO Ltd, Technip’s wholly-owned subsidiary in Newcastle, England, will manufacture the umbilical. Vessels from the Group’s fleet will be used for the offshore campaign, including its newest state-of-the-art pipelay vessel, the Deep Energy.

Bill Morrice, Managing Director of Technip in the United Kingdom, said: “We are delighted to be reigniting our relationship with Chevron with this substantial contract that will allow us to support them in bringing the Alder field onstream. Technip has a proven track record in delivering EPIC contracts of this scale and our unique vertical integration is an added-value advantage for our clients as our capabilities cover the entire value chain for subsea infrastructures. The UK Continental Shelf is still an exciting place to be with many major fields being developed both around traditional developments and in deeper waters West of Shetland, a market Technip is keen to maximize opportunities.”

___

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs