Key Developments: Technip (TECF.PA)

TECF.PA on Paris Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Technip awarded furnace engineering and procurement contract
Monday, 3 Nov 2014 01:00am EST 

Technip:Says that it has been awarded by Sasol a contract to provide engineering and procurement for eight proprietary Ultra Selective Conversion furnaces for ethane cracker and derivatives complex to be located in Lake Charles, Louisiana, USA.The award follows Sasol's selection of Technip's proprietary ethylene technology and FEED for the cracker, which will produce an estimated 1.5 million tons per annum of ethylene.  Full Article

Technip wins substantial subsea contract for Bangka development in Indonesia
Wednesday, 29 Oct 2014 02:00am EDT 

Technip:Says that it was awarded substantial subsea contract by Chevron Indonesia for Bangka Development, located in Rapak PSC area, about 70km offshore province of East Kalimantan, Indonesia.Contract covers engineering, procurement, construction, installation, commissioning and pre commissioning of flexibles, umbilical, and subsea structures.Says that its operating centers in Jakarta, Indonesia, and Kuala Lumpur, Malaysia, will execute contract and provide customer support, from conception to execution.  Full Article

EnQuest selects Technip for large subsea contract
Tuesday, 28 Oct 2014 02:00am EDT 

Technip:Says that it was awarded by EnQuest earlier this year large engineering, procurement, installation and construction (EPCI) contract for Kraken development located in North Sea, 400 kilometers North-East of Aberdeen and 130 kilometers East of Shetland, at water depth of about 120 meters.Contract covers various project management engineering and installation works, which include: fabrication and pipelay of about 50km of rigid pipe - 25km of metallurgically clad pipe and 25km of HDPE lined; installation of 3 umbilicals totaling 14km; installation of 7km of flexible risers and jumpers.Template and manifold installation at three drill centers; diverless tie-ins to pipelines and manifolds; and pipeline flooding, hydro testing and leak testing.Says that its operating center in Aberdeen, United-Kingdom, will execute contract.  Full Article

Technip and Fluor awarded EP&CM Contract for Sasol’s Louisiana Ethane Cracker and Derivatives Complex
Monday, 27 Oct 2014 01:30pm EDT 

Technip:Says in a joint venture with Fluor Corporation, was awarded an engineering, procurement, and construction management (EP&CM) contract by Sasol for its world scale ethane cracker and derivatives complex near Lake Charles, Louisiana, USA.New complex will be a expansion to Sasol`s existing Lake Charles Chemical Complex and will be constructed adjacent to its existing facility in southwest Louisiana.Under this contract, the Technip and Fluor joint venture will be responsible for a 1.5 mln-tons-per-year ethane cracker, downstream derivatives units and associated utilities, offsites and infrastructure work.Contract covers the overall project management, detailed engineering, procurement and construction management, together with start-up, commissioning and performance testing support to Sasol operations, and is scheduled for completion in 2018.Project will be executed by Technip in Houston, Texas, USA, with support from its operating centers in Rome, Italy, Mumbai, India, and its Technip Stone & Webster Process Technology global business unit.  Full Article

Technip and Fluor secures RAPID UIO project in Malaysia
Thursday, 23 Oct 2014 01:17pm EDT 

Technip:Says in a joint venture with Fluor, was awarded an engineering, procurement and construction management contract by PRPC Utilities and Facilities Sdn. Bhd. for the PETRONAS Refinery and Petrochemical Integrated Development (RAPID) project located in the state of Johor, Malaysia.Under this contract, the Fluor and Technip joint venture will be responsible for the utilities, interconnecting and offsites (UIO) scope of work.  Full Article

Technip announces increase of number of outstanding ordinary shares
Monday, 29 Sep 2014 08:00pm EDT 

Technip:Announces that 245,086 new ordinary shares issued by the company, immediately assimilated with the existing ordinary shares, will be listed on the market Euronext Paris as Oct. 2.Says the old number of outstanding shares is 113,680,256.Says the number of shares to be listed is 245,086.Says the new number of outstanding shares is 113,925,342.Says the reason is exercise of option.  Full Article

Technip wins significant contract for new refinery units in Kingdom of Bahrain
Tuesday, 16 Sep 2014 01:00am EDT 

Technip:Says that it was awarded by The Bahrain Petroleum Company (BAPCO) a contract on reimbursable basis to develop front-end engineering design (FEED) of refinery located in Kingdom of Bahrain.FEED contract covers four main work packages that include units aimed at processing "bottom of the barrel" components to high value products, and all associated offsites and utilities to provide seamless integration with existing refinery facilities earmarked for retention post this modernization.Project aims at enhancing refinery configuration, by increasing throughput from 267,000 to 360,000 barrel per day as well as improving product slate and profitability.Technip's operating center in Rome, Italy, in cooperation with Technip's operating center in Abu Dhabi, United Arab Emirates, will execute the contract, scheduled to be completed at end of 2015.  Full Article

Technip secures subsea contract for the kodiak project
Thursday, 11 Sep 2014 01:00am EDT 

Technip:Says it was awarded by Deep Gulf Energy II LLC a lump sum contract for the development of the Kodiak field, located in Mississippi Canyon Blocks 727 and 771, in the Gulf of Mexico, at water depths ranging from 1,472 meters to 1,710 meters.  Full Article

Technip wins Juniper project contract
Monday, 8 Sep 2014 08:00pm EDT 

Technip:Announces that it has been awarded a substantial (1) EPIC (2) lump sum contract by BP Trinidad and Tobago LLC for the development of the Juniper project, to be located off the South East coast of Trinidad.Says the scope of work consists of design, detailed engineering, procurement, construction, load out and mechanical completion.Says Technip's operating center in Houston, Texas, USA, will perform the overall design, detailed engineering and project management.Says offshore installation is scheduled for the second half of 2016.  Full Article

Technip to sell 100 pct of its North American diving assets to Ranger Offshore Inc
Friday, 5 Sep 2014 01:00pm EDT 

Technip:Signs agreement to sell 100 pct of its North American diving assets to Ranger Offshore Inc.Proceeds from this divestment will be partially reinvested directly into Technip's Subsea business, specifically focusing on improvements to the rigid pipe fabrication facility (spoolbase) in Mobile, Alabama, United States.As part of this transaction, Technip and Ranger Offshore have entered into a multiyear Diving Services Agreements covering Technip’s North America Region.The closing of the sale is estimated to occur during the fourth quarter of 2014.  Full Article

European shares dip on weaker-than-expected euro zone data

PARIS, Nov 20 - European shares fell on Thursday as weaker than expected euro zone manufacturing data added to worries about the outlook for growth and triggered a sell-off in southern European stocks.

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