Technip Wins Flexible Pipe Contract in Offshore East Malaysia

Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) has been awarded an engineering, procurement, installation and commissioning contract by PETRONAS Carigali Sdn Bhd (PCSB) for D18 Project.

The project covers the procurement and installation of two 8” water injection flexible pipes totalling 9.5 kilometers. The flexible pipes will connect three fixed jacket platforms which form the existing D18 infrastructure offshore Sarawak, Malaysia, at a water depth of 36 meters.

This contract is part of the 5-year Framework Agreement signed with PETRONAS in late 2014 and is in line with Technip strategy to strengthen its partnerships with its clients to drive cost optimization.

Asiaflex Products, Technip’s flexible pipe manufacturing plant located in Johor, Malaysia, will execute the contract with support from Technip’s operating centre in Kuala Lumpur, Malaysia. The project is scheduled for completion in late 2015.

The flexible pipes will be manufactured at Asiaflex Products and the Deep Orient, one of Technip’s subsea construction vessel, will be mobilised for installation during the second semester of 2015.

KK Lim, President of Technip in Asia Pacific commented: "This is the first work order awarded under the 5-year Framework Agreement signed with PETRONAS. We are pleased to be able to leverage our unique subsea vertical integration of product design, manufacturing and installation vessel to offer a cost effective solution to our client by using flexible pipe technology.”

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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 37,500 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges.

Present in 48 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 traded in the USA on the OTCQX marketplace (OTCQX: TKPPY).

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