Technip Wins its Largest-Ever Subsea Contract
French oilfield services firm Technip reported Wednesday that it is part of a consortium that has won a $3.5-billion subsea contract from Total for work offshore Angola. Technip's share of the contract is approximately 55 percent, making it the company's largest-ever subsea contract.
The project falls within a strategic alliance formed between Technip and Heerema 15 months ago that aims to offer comprehensive solutions for subsea projects through a combination of complementary assets, technologies and capabilities. It will see the two companies carry out engineering, procurement, construction and installation (EPCI) work as well as pre-commissioning for the SURF (subsea umbilicals, risers and flowlines) part of the Kaombo project, which is located in Block 32 offshore Angola in water depths of up to 6,560 feet.
Technip said that engineering work will begin immediately in Paris (France), Leiden (the Netherlands) and Luanda (Angola), with most of the offshore installation activities being scheduled for 2016 and 2017.
Technip CEO Thierry Pilenko commented in a company statement:
"This project is the largest subsea contract ever awarded to Technip and strengthens our position in the ultra-deepwater market. This award further reflects the confidence of major industry players, such as Total, in the Technip Heerema Alliance to address the significant challenges of ultra-deepwater projects.
"We are proud to bring an unrivaled complementarity of capabilities, while leveraging leading-edge technologies, R&D and assets. Furthermore, we are delighted to see that this award validates both companies' commitment to developing facilities and workforce locally for the benefit of the Angolan energy infrastructure."
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