|By Business Wire||
|April 18, 2014 01:00 AM EDT||
Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) announces that a consortium composed of Angoflex Ltda(1) (owned jointly with Sonangol) and DUCO Ltd(2), has been awarded a large(3) lump-sum contract by Total E&P Angola. The contract consists of the umbilical system part of the Kaombo project, located in Block 32 offshore Angola in water depths up to 2,000 meters.
The scope of work covers the engineering, procurement and fabrication of 120 kilometers of umbilicals, the majority of which will be manufactured at the Angoflex facility in Lobito, Angola. The project will be one of the largest umbilical project to be manufactured in Lobito following a major expansion of the plant capabilities in 2012.
The contract will be managed from DUCO Ltd in the UK, which will bring its experience and expertise to perform the project management, engineering and procurement activities.
The project will start immediately with first umbilical deliveries in Angola scheduled for 2016. The project is scheduled for completion in 2017.
Jean Louis Rostaing, Managing Director of DUCO Ltd, said: “We are very proud to have been selected again by Total to support this major Angolan development, which is the largest umbilical supply contract awarded to Technip. This contract is an excellent example of our capabilities to deliver large and complex umbilical projects and our unique position to manufacture umbilicals locally in Angola.”
This award follows the announcement of the contract won by the consortium of Technip and Heerema Marine Contractors (Heerema), for the engineering, procurement, construction, installation (EPCI) and pre-commissioning for the SURF (subsea umbilicals, risers and flowlines) part of the Kaombo project.
(1) Angoflex is a joint company between Technip (70%) and Sonangol (30%)
(2) DUCO is a wholly-owned subsidiary of Technip
(3) For Technip, a “large” subsea contract is ranging from €250 to €500 million.
About subsea products
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 40,000 people are constantly offering the best
solutions and most innovative technologies to meet the world’s energy
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 NYSE Euronext Paris exchange and ADR is traded in the US on the OTCQX marketplace as an American Depositary Receipt (OTCQX: TKPPY).
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