Technip Wins N. Sea Subsea Contract from Oilexco

Technip has been awarded a frame agreement by Oilexco North Sea Ltd. for subsea services in the United Kingdom North Sea. Under the terms of this contract, which is potentially worth approximately 190 million, Technip will provide these services for the next three years. The contract includes an option for an additional period.

Technip's operating center in Aberdeen, Scotland, and Genesis Engineering Consultancy, the Group's consultancy and engineering company, will execute these services, which could include conceptual engineering, project management, procurement, construction, installation, provision of diving support, trenching support and umbilical installation vessels, and inspection, repair and maintenance.

This is the first time Oilexco has implemented a subsea services frame agreement. This will guarantee availability of assets for Oilexco when required, enabling fast track project delivery.

The first project undertaken as part of the frame agreement will be the Shelley field development, located in the central North Sea. For this project, Technip will execute the engineering, installation and commissioning of pipelines, a control umbilical and jumpers, flexible risers, a subsea manifold and attendant flowline.

This award marks a new step in the collaboration between Technip and Oilexco, for whom Technip undertook its first North Sea development, Brenda / Nicol, in 2006.


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