Technip awarded a Subsea contract for the Marulk project in Norway

Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708) announced today that it has signed an agreement, worth approximately €30 million, with Statoil ASA for the fabrication and installation of a pipe-in-pipe flowline⁽¹⁾ to support the Marulk field development. Statoil is carrying out parts of the Marulk development project on behalf of the operator Eni⁽²⁾.

The Marulk field is located in the Norwegian Sea approximately 30 kilometers southwest of the Norne field at a water depth of 365 meters. The initial development will consist of two wells tied back to the Norne floating production, storage and offloading vessel (FPSO). This 30.5 kilometer-long tie-back is based on the use of Technip’s proven pipe-in-pipe technology.

The agreement will be executed by Technip’s operating center in Oslo, Norway. The pipeline fabrication will be completed by Technip’s Spoolbase in Orkanger, Norway while installation will be performed by Apache II, a newly converted vessel from Technip fleet, in the first half of 2011.

The agreement is signed based upon the plan for development and operation (PDO) with Authority approval expected this summer 2010.

⁽¹⁾ Pipe-in-pipe flowline: steel pipes assembly consisting of a standard production pipe surrounded by a so-called carrier pipe. The gap between the carrier and production pipes is filled with an insulation material. As the insulation is protected from the external pressure by the carrier pipe, a high thermal performance material can be used. This technology provides the level of insulation necessary for economical installation and the level of flow assurance needed for effective production in deep and ultra-deep water.

⁽²⁾ The approving group is Eni Norge as Operator, and the partners in PL122:

- Eni Norge AS (Operator) 20.0%

- Statoil Petroleum AS 50.0%

- DONG E&P Norge 30.0% "

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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 48 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.

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