Technip Awarded a Contract for the Modernization of SOCAR Azerikimya Petrochemical Complex in Azerbaijan

Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) has been awarded by SOCAR a contract for Engineering Procurement and Construction (EPC) services for the SOCAR Azerikimya plant, located in the city of Sumgait, Azerbaijan.

The scope of work includes:

• the modernization of the EP-300 steam cracker with construction of new cracker furnaces licensed by Technip,
• the installation of a new refinery dry gas treatment unit, new ethylene and propylene storage and related utilities and off-sites facilities.

In addition the project includes the modernization of the instrumentation and new control system. It also covers control building in order to improve the overall efficiency and safety of the plant.

Technip’s operating center in Rome, Italy, will execute the contract, scheduled to be completed during the first half of 2019.

Marco Villa, President of Technip’s Region EMIA⁽¹⁾, commented: "This award confirms the leading role of Technip in the petrochemical market as licensor as well as EPC contractor. We are proud of this result as it reinforces Technip’s presence in Azerbaijan, which is a strategic market. It allows us to consolidate and improve the positive relationship with Socar. In line with the environmental policies, the modernization of this petrochemical plant will be executed according to the highest standards in terms of technology, efficiency and environmental protection”.

⁽¹⁾Technip EMIA Region covers the following geographical regions: Europe, Russia, Middle East, India, Africa and Latin America for Onshore-Offshore segment.

Technip is a world leader in project management, engineering and construction for the energy industry.
From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our close to 31,000 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges.
Present in 45 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 Euronext Paris exchange, and its ADR is traded in the US on the OTCQX marketplace as an American Depositary Receipt (OTCQX: TKPPY).

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