Technip Wins Gimboa Contract

Sonangol P&P has awarded Technip a contract worth approximately $70 million for the Gimboa field development. The Gimboa field is located 85 km offshore the Angolan cost, in the block 4, in 680 m water depth. Norsk Hydro, ACR (Angola Consulting Resources) and SOMOIL (Sociedade Petrolefira Angolana) are also partners of the project.

The Gimboa project consists of three production and four water injection subsea wells, clustered around a central manifold and tied-back to a floating production storage and offloading unit (FPSO).

Technip will perform the engineering, procurement, fabrication, testing, installation and pre-commissioning of:

--one production and one water injection flexible flowlines
--one gas lift flexible pipe
--one service umbilical
--an associated flexible risers system
--flexible well jumpers.

This contract also includes the installation of other subsea equipment, provided by Sonangol P&P.

Technip will carry out the contract with the assistance of its operations and engineering center in Luanda (Angola) for the execution of the engineering, and of Angoflex, the Group's umbilical plant in Luanda, for the manufacture of the umbilical and logistic support. Both are Angolan companies run in association with Sonangol E&P. The flexible lines will be manufactured by Flexi France, one of the Group's flexible pipe plants, located in Le Trait (France).

Offshore operations will be performed by one of the Group's dynamically positioned vessels during the first half of 2008.

A flowline is a rigid or flexible pipe, laid on the seabed, which allows the transportation of oil/gas production or injection of fluids. It is generally an infield line, linking underwater structures to each other or to a fixed or floating production facility. Its length can vary from a few hundred meters to several kilometers.

An umbilical is an assembly of hydraulic hoses which can also include electrical cables or optic fibers, used to control subsea structures or remotely operated vehicles (ROV) from a platform or a vessel.

A riser is a pipe or assembly of flexible or rigid pipes used to transfer produced fluids from the seabed to surface facilities, and transfer injection or control fluids from the surface facilities to the seabed.

A jumper is a short pipe (flexible or rigid) used to connect a flowline to a subsea structure or to connect two subsea structures located close to one another.

With a workforce of more than 21,000 people, Technip ranks among the top five corporations in the field of oil, gas and petrochemical engineering, construction and services.

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