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Technip Awarded Contract For The Development Of The Umm Lulu Field In Abu Dhabi

Stocks in this article: TEC

Regulatory News :

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY), in a consortium led by National Petroleum Construction Company (NPCC), has been awarded by Abu Dhabi Marine Operating Company (ADMA-OPCO) the contract for the engineering, procurement and construction (EPC) work of Umm Lulu Full Field Development project – Package 2 (Process Facilities).

The contract, with an approximate value of US dollars 1.69 billion (Technip share: about 35%), was awarded at the conclusion of a competitive bidding process in which a number of EPC contractors participated.

The contract’s scope of work consists of the detailed engineering, procurement, fabrication, offshore installation, commissioning and start-up of a large offshore super complex comprising of six bridge linked platforms including gathering, separation, gas treatment and water disposal facilities, utilities and accommodation modules, totaling over 66,000 metric tons (with associated jackets, flares, bridges and subsea composite cables). The platforms will be installed by the floatover method developed by Technip, which allows a high proportion of the hook-up and pre-commissioning work to be completed onshore prior to load-out, and thereby significantly reduces both the duration and cost of the offshore commissioning phase.

Technip will be responsible for the engineering of the project and will share the procurement and commissioning works with NPCC. NPCC will be responsible for the fabrication and installation of the facilities. The project is scheduled to be completed in the first half of 2018.

Vaseem Khan, Senior Vice President of Technip in the Middle East, declared: “ This award confirms our world leading position in offshore engineering as well as floatover operations and strengthens our continuous involvement in major offshore projects in the UAE, where we have been present for more than 30 years. We are proud to contribute to ADMA-OPCO’s offshore complex as it will be the largest in the region.

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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).

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