Technip Finalizes Collaboration Agreements with MISC, MHB

Technip has finalized its agreements with MISC Berhad and Malaysia Marine and Heavy Engineering Holdings Berhad (MHB), two companies within Malaysia's national oil corporation, Petroliam Nasional Berhad (PETRONAS), to establish their long-term collaboration.

As previously announced on August 20, 2010, to strengthen the links between the two groups, Technip will take an 8% stake in MHB in connection with the listing and initial public offering of MHB's ordinary shares on the Main Market of Bursa Malaysia (Kuala Lumpur stock exchange), which is expected to occur at the end of this month.

This investment and collaboration extends Technip's local content in Malaysia and reinforce its position in the fast growing Asia Pacific region in line with Technip strategic goals.

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