Technip Awarded Contract for the Oselvar Field Development in Norway
September 23 2009 - 1:30AM
Business Wire
Regulatory News:
Technip (Paris:TEC) (ISIN:FR0000131708) has been awarded by DONG
E&P Norge AS an engineering, procurement, construction and
installation lump sum contract, worth in excess of €45 million, for
the Oselvar field development(1). This field is located on the
Norwegian Continental Shelf, 250 kilometers offshore Norway, at a
water depth of 72 meters.
The contract covers turnkey delivery of an approximately 27
kilometer-long pipe-in-pipe flowline(2), installation of an
umbilical(3) and subsea equipment and tie-ins.
Oselvar is the first major Subsea contract awarded to Technip by
DONG. It will be executed by the Group’s operating center in Oslo,
Norway. Offshore installation is scheduled to be carried out in
2010 and 2011.
(1) The Production Licence No PL 274 and 274CS (Oselvar) Owner
Group consists of Norwegian Energy Company ASA (NORECO), Bayerngas
Norge AS and DONG E&P Norge AS (operator).
(2) Pipe-in-pipe flowline: steel pipes assembly consisting of a
standard production pipe surrounded by a so-called carrier pipe.
The gap between the carrier and production pipes is filled with an
insulation material.
(3) Umbilical: an assembly of steel tubes and/or thermoplastic
hoses. Umbilicals can include electrical cables or optic fibers to
support communications, power supply and telemetry functions.
Technip is a world leader in the fields of project management,
engineering and construction for the oil & gas industry,
offering a comprehensive portfolio of innovative solutions and
technologies.
With 23,000 employees around the world, integrated capabilities
and proven expertise in underwater infrastructures (Subsea),
offshore facilities (Offshore) and large processing units and
plants on land (Onshore), Technip is a key contributor to the
development of sustainable solutions for the energy challenges of
the 21st century.
Present in 46 countries, Technip has operating centers and
industrial assets (manufacturing plants, spoolbases, construction
yard) on five continents, and operates its own fleet of specialized
vessels for pipeline installation and subsea construction.
The Technip share is listed on Euronext Paris exchange and over
the counter (OTC) in the USA.