Technip Awarded Umbilical Supply Contract by Statoil in Norway

Regulatory News:

Technip’s (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) wholly-owned subsidiary Technip Umbilicals Ltd.⁽¹⁾ has been awarded a contract by Statoil ASA to supply the umbilical⁽²⁾ to the Oseberg Vestflanken 2 field offshore Norway. This field is located approximately 8 kilometers North West of the Oseberg field center at block 30/9-30/6 on the Norwegian continental shelf, at water depths of 100 meters.

The contract covers project management, engineering and manufacture of over 9 kilometers of static steel tube umbilical. The umbilical includes a large bore integrated service line and multiple power cables.

Technip Umbilicals’ facility in Newcastle, UK, will manufacture the project, which is scheduled to be completed during the first half of 2017.

Sarah Cridland, Managing Director of Technip Umbilicals, said: "As a company we have invested significantly in our Newcastle facility and it is encouraging to see the award of contracts, such as Oseberg, from this. This is an extremely important recognition to Technip Umbilicals from Statoil.”

⁽¹⁾ Technip Umbilicals: a wholly-owned subsidiary of Technip comprising of Technip Umbilicals Ltd. in Newcastle upon Tyne, UK, Technip Umbilicals Inc. in Houston, USA, Angoflex in Lobito, Angola and Asiaflex Products in Johor, Malaysia.

⁽²⁾ Umbilical: an assembly of steel tubes and/or hydraulic hoses which can also include electrical cables or optic fibres used to control subsea structures from a platform or a vessel.

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).

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