(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 Awarded Subsea Contract By Chevron North Sea
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.