(1) For Technip, a “substantial” subsea contract is ranging from €100 to €250 million. (2) Umbilical: An assembly of steel tubes and/or thermoplastic hoses which can also include electrical cables or optic fibres used to control subsea structures from a platform or a vessel. (3) Manifold: a piece of pipe with several lateral outlets and/or inlets for connecting one pipe with 3 others. (4) HIPPS: High Integrity Pressure Protection System (5) Spoolpiece: A short section of pipe for the connection of two subsea structures. (6) Genesis is a market-leading engineering company focused on providing engineering and technical services to the global upstream oil and gas industry. It is part of the Technip Group.
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 38,000 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 traded in the USA on the OTCQX marketplace (OTCQX: TKPPY).