Technip Awarded Key IRM Frame Agreement in UKCS

Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) has been awarded a key contract by Repsol Sinopec Resources UK Limited for Inspection, Repair and Maintenance (IRM) works on its North Sea subsea infrastructure.

The frame agreement with Repsol Sinopec Resources UK will see Technip provide diving support and IRM services for 2016, with possible extension to include 2017 and 2018.

The frame agreement covers:

• Provision of equipment, including diving equipment, underwater intervention and engineering services;
• Onshore management and engineering support, provision of ancillary personnel and equipment to support Technip’s performance of the work;
• Diver inspection, ROV inspection, maintenance, repair, construction and decommissioning.

Technip’s operating centre in Aberdeen, United Kingdom, is managing the project.

The work scopes will utilize diving support vessels from the Group’s high performing fleet.

Bill Morrice, Managing Director of Technip’s UK operating centre, said: "I am delighted that Repsol Sinopec Resources UK has chosen Technip to support them in maintaining this important UK oil & gas infrastructure. We have an extensive track record in life of field extension work and have successfully delivered many projects of this type. Furthermore, in these difficult times for the industry, we are extremely pleased to be entrusted to deliver this work, and look forward to working with Repsol Sinopec Resources UK.”

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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 32,500 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).

More information
Website http://www.technip.com
@TechnipGroup

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