Regulatory News: Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) was awarded by Statoil ASA an important (1) lump sum contract for pipelay and subsea installations for the Snøhvit CO 2 Solution project. The Snøhvit field is located approximately 140 kilometers north-west of Hammerfest in Norway, in the Arctic Circle, and has been in operation since 2007, following the successful installation of the subsea infrastructure by Technip. The production of natural gas of this field is based on CO 2 being separated at the Melkøya onshore plant and re-injected into the field. The Snøhvit project development will establish an additional well at a new CO 2 injection template (2) as well as prepare for gas production from existing templates. This contract covers:
- fabrication and installation of flowlines(3), including two 5-kilometer 13% chrome stainless steel production flowline and a 5-kilometer CO2 injection flowline,
- installation and tie-ins of spools, jumpers and umbilicals(4),
- installation of a new combined production and injection template and manifold(5).
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).