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Contract Awards: Technip awarded USD 1.1 billion contract for subsea development in Angola

Posted on 07.01.2008 - 08:00 EST in CONTRACT AWARDS by Rons_ROV_Links

Technip awarded USD 1.1 billion contract for subsea development in AngolaTechnip (Paris:TEC) (ISIN:FR0000131708), leader in a consortium with Acergy, has been awarded by Total a contract for the development of the Pazflor oil field, located offshore Angola in Block 17, at water depths reaching 1,200m. Technip's share of this USD 1.860 billion contract represents USD 1.160 billion.

Technip's share of the contract covers:

•  the engineering, procurement, fabrication and installation of over 80km of production and water injection rigid flowlines, conventional flexible risers and integration production bundle (IPB) risers,
•  the engineering, procurement and fabrication of over 60km of umbilicals.

Technip's operating center in Paris (France) will execute this contract. The umbilicals will be manufactured at the umbilical plant of Angoflex, a company run in association with Sonangol E&P, in Lobito (Angola). The flowlines and subsea structures will be assembled at the Group's spoolbase at Dande (Angola), contributing to Technip's local content policy.

Offshore installation will commence in 2010, using Technip's vessels Deep Blue and Deep Pioneer.

The award of this major subsea contract follows Technip's successful completion of the Dalia project. It attests to the confidence that the Block 17 partners have in the Group and its Angolan industrial assets, and acknowledges Technip's expertise in the design of deep-depth subsea infrastructures and technological know-how.
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