Technip Energies Bags Significant Deal
Technip Energies (PARIS:TE) has announced that it has been awarded a “significant” contract for project engineering and management services (PEMS) by Kuwait Integrated Petroleum Industries Company (KIPIC) through its wholly owned subsidiary in the UK; Technip E&C Limited.
The company defines a “significant” contract as being worth between $60.9 million (EUR 50 million) and $304.9 million (EUR 250 million). The contract is for six years and covers project engineering and management services for various potential projects in the Al-Zour complex, including the Al-Zour refinery, petrochemical complex, LNG Import facilities, and other facilities belonging to KIPIC.
“We are pleased to have been awarded this contract by KIPIC which confirms our long-standing presence as an established contractor in Kuwait,” Stephane Mespoulhes, the vice president of project management consultancy at Technip Energies, said in a company statement.
“This award demonstrates our leading position in project management consultancy activities and confirms the ramp-up of our technology, products, and services business segment,” he added in the statement.
Earlier this week, Technip Energies revealed that it had been awarded two contracts by Neste for work on the development of the company’s renewables production platform in Rotterdam, the Netherlands, as part of an existing partnership agreement between Neste and Technip Energies. The sum of both contracts is worth between $60.9 million (EUR 50 million) and $304.9 million (EUR 250 million), Technip Energies outlined.
Technip Energies was also awarded a large engineering, procurement, construction, and commissioning (EPCC) contract by Indian Oil Corporation Limited in May for its para xylene and purified terephthalic acid complex project at Paradip, Orissa, on the East Coast of India. This deal is worth between $60.9 million (EUR 250 million) and $610.2 million (EUR 500 million), Technip Energies highlighted.
Technip Energies describes itself as a leading engineering and technology company for the energy transition. The business operates in 34 countries and employs 15,000 people, its website shows.
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