Technip and Subsea 7 Awarded Subsea Installation Contract for the CWLH Redevelopment Project in Australia

Regulatory News:

Technip (Paris: TEC)(ISIN:FR0000131708) and Subsea 7 (OSE Symbol: SUB), have been awarded a subsea installation contract by Australia’s largest publicly traded oil and gas exploration and production company, Woodside Energy Ltd., for the Cossack Wanaea Lambert Hermes (CWLH) redevelopment project in Western Australia.

The overall CWLH redevelopment project involves the replacement of the oil-producing Cossack Pioneer floating production storage and offloading (FPSO) facility, located offshore in the Carnarvon Basin, as well as the refurbishment of associated subsea infrastructure.

The Technip and Subsea 7 contract consisting in the refurbishment of associated subsea infrastructure covers:

• project management,
• recovery of three risers⁽¹⁾ and installation of three replacement risers,
• installation of 20 kilometers of flowlines⁽²⁾,
• riser base rectification works, and
• pre-commissioning assistance.

The project team is based in Technip’s office in Perth, Western Australia. The flowlines and risers have been manufactured in Le Trait, France, one of Technip’s flexible pipe plants. Offshore installation is scheduled to start in the fourth quarter of 2010 using the Venturer, a construction vessel from Technip’s fleet and the Nor Australis diving support vessel contracted to Woodside.

⁽¹⁾ Riser: a pipe or assembly of pipes used to transfer produced fluids from the seabed to surface facilities, and transfer injection or control fluids from the surface facilities to the seabed.

⁽²⁾ Flowline: flexible or rigid pipe laid on the seabed for the transport of production or injection fluids.

Technip

Technip is a world leader in the fields of project management, engineering and construction for the oil & gas industry, offering a comprehensive portfolio of innovative solutions and technologies.

With 23,000 employees around the world, integrated capabilities and proven expertise in underwater infrastructures (Subsea), offshore facilities (Offshore) and large processing units and plants on land (Onshore), Technip is a key contributor to the development of sustainable solutions for the energy challenges of the 21^st century.

Present in 46 countries, Technip has operating centers and industrial assets (manufacturing plants, spoolbases, construction yard) on five continents, and operates its own fleet of specialized vessels for pipeline installation and subsea construction.

The Technip share is listed on Euronext Paris exchange and over the counter (OTC) in the USA.

Subsea 7

Subsea 7 is one of the world’s leading subsea engineering and construction companies offering all the expertise and assets that make Subsea Umbilical, Riser and Flowline (SURF) field development possible. With a multi-national workforce in excess of 5,000 people worldwide, the company’s global offshore operations are supported out of the North Sea, Africa, Brazil, North America and Asia Pacific. Subsea 7 has a fleet of industry leading, dynamically-positioned ships capable of reeled and flexible pipelay, subsea construction and saturation diving and a portfolio of pipeline construction yards worldwide.

Subsea 7’s shares trade on the Oslo Stock Exchange (http://www.oslobors.no/): Ticker Code SUB.

Technip’s website is accessible at http://www.technip.com
Subsea 7’s website is accessible at http://www.subsea7.com