Technip (TKPPY: OTCQX International Premier) | Technip Awarded a Subsea Contract for the K2 Field in the Gulf of Mexico

Technip Awarded a Subsea Contract for the K2 Field in the Gulf of Mexico

Nov 13, 2014

OTC Disclosure & News Service

Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) has been awarded a contract by Anadarko Petroleum Corporation for the K2 Riser Base Gas Lift project, located in Green Canyon 608 in the Gulf of Mexico, at a water depth of approximately 1,300 meters.

This contract covers:

  • project management and engineering,
  • design, fabrication, and installation of two PLEMs and four PLETs,
  • installation of flowline, jumpers and associated terminations and hardware,
  • installation of one free issued dynamic umbilical with SUTA(1) and flying leads,
  • pre-commissioning of the flowline and umbilical gas lift system.

Technip’s operating center in Houston, Texas, USA, will conduct the overall project management. The offshore installation is expected to be performed in the second half of 2015 by Technip’s Deep Blue, one of the world’s largest purpose-built ultra deepwater pipelay and subsea construction vessels.

Deanna Goodwin, President North America at Technip, stated: “We are delighted to have been awarded this new project in which we are able to provide enhancement infrastructure to increase and extend the life of an existing Gulf of Mexico field and facility. Technip appreciates the recognition of Anadarko for our involvement in the K2 development with flowline, riser and tie-in work performed previously in 2005 and 2009 and now with this recent contract.”

(1)Subsea Umbilical Termination Assembly

Fast facts about subsea products

PLEM: pipeline end manifold
PLET: pipeline end termination, subsea structure to connect rigid flowline and flexible riser.
Flowline: a flexible or rigid pipe, laid on the seabed, which allows the transportation of oil/gas production or injection of fluids. Its length can vary from a few hundred meters to several kilometers.
Jumper: a short section of pipe for the connection of two subsea structures.
Umbilical: an assembly of hydraulic hoses which can also include electrical cables or optic fibres used to control subsea structures from a platform or a vessel.

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Technip is a world leader in project management, engineering and construction for the energy industry.
From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 40,000 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges.
Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.
Technip shares are listed on the NYSE Euronext Paris exchange and traded in the USA on the OTCQX marketplace (OTCQX: TKPPY).

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