Technip Awarded a Deepwater Pipeline Installation Contract in the Gulf of Mexico

Regulatory News: Technip (Paris:TEC) (ISIN:FR0000131708) has been awarded a lumpsum installation contract by Callon Petroleum Company for the Entrada oil field development in the Gulf of Mexico. The contract covers the installation of: two 6.5 mile steel flowlines(1) that will tie-back two subsea wells at a depth of 4,475 feet, PLETs(2) and inline structures, steel catenary risers(3) to be connected to the Magnolia offshore platform in 4,675 feet of water depth. Detailed engineering and project management will be performed at Technip’s operating center in Houston, Texas. Welding of the flowlines and risers will take place at Technip's spoolbase located in Mobile, Alabama. Offshore installation is scheduled for the third quarter of 2008 using the Deep Blue, Technip's deepwater pipelay vessel. (1) Flowline: a pipe, laid on the seabed, which allows the transportation of oil/gas production or injection of fluids. Its length can vary from a few hundred meters to several kilometers. (2) PLET: Pipeline End Termination (3) 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. With a workforce of 23,000 people, Technip is a worldwide leader in the field of oil, gas and petrochemical engineering, construction and services. The Group is headquartered in Paris. The Group’s main operating centers and business units are located in France, Italy, Germany, the UK, Norway, Finland, the Netherlands, the USA, Brazil, Abu-Dhabi, China, India, Malaysia and Australia. In support of its activities, the Group manufactures flexible pipes and umbilicals, and builds offshore platforms in its manufacturing plants and fabrication yards in France, Brazil, the UK, the USA, Finland and Angola, and has a fleet of specialized vessels for pipeline installation and subsea construction. The Technip share is listed in Paris on Euronext Paris.