Key Developments: Technip (TECF.PA)

TECF.PA on Paris Stock Exchange

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22 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Technip wins in consortium umbilical contract for Kaombo project in Angola
Friday, 18 Apr 2014 01:00am EDT 

Technip:Consortium composed of Angoflex Ltda (owned in 70 pct by Technip and in 30 pct by Sonangol) and wholly owned DUCO Ltd wins lump-sum contract by Total E&P Angola.Contract consists of umbilical system part of Kaombo project, located in Block 32 offshore Angola in water depths up to 2,000 meters.Scope of work covers engineering, procurement and fabrication of 120 kilometers of umbilicals, in majority to be manufactured at Angoflex facility in Lobito, Angola.Contract to be managed from DUCO Ltd in UK.Project to start immediately with first umbilical deliveries in Angola scheduled for 2016.Project scheduled for completion in 2017.  Full Article

Technip Heerema Alliance wins Kaombo subsea contract offshore Angola
Wednesday, 16 Apr 2014 01:00am EDT 

Technip:Says consortium comprising Technip and Heerema Marine Contractors was awarded lump-sum contract by Total E&P Angola for engineering, procurement, construction, installation (EPCI) and pre-commissioning for SURF (subsea umbilicals, risers and flowlines) part of Kaombo project.Kaombo project is located in Block 32 offshore Angola in water depths up to 2,000 meters.Contract is valued at about $3.5 billion with Technip share of around 55 pct and a Heerema share of around 45 pct.Project is scheduled for completion in H1 2018.  Full Article

Technip wins contract for Cargill's new ethanol plant
Monday, 14 Apr 2014 01:00am EDT 

Technip:Says that it was awarded contract comprising detailed engineering, procurement and construction (EPC) for core process units of Cargill's new ethanol production plant located in Barby, Germany.Production units will be built on green field site alongside Cargill's existing wheat processing facility.New plant will consist of a fermentation unit and a distillation/rectification unit. After completion of the construction works.Says it will also assist with start-up and performance testing of new units.Says its operating center in Düsseldorf, Germany, will execute contract, which is scheduled to be completed by second half of 2015.  Full Article

Technip awarded FEED contract in Basra, Iraq
Thursday, 10 Apr 2014 01:00am EDT 

Technip:Says that, in partnership with China HuanQiu Contracting & Engineering Corporation (HQC), it was awarded by Basra Gas Company (BGC), a front-end engineering design (FEED) contract for Ar Ratawi Natural Gas Liquids (NGL) train project at North Rumaila in Basra Province, Iraq.Scope of work covers basic engineering design package of NGL process units, utilities and submission of engineering procurement and construction (EPC) package.Technip’s operating center in Abu Dhabi will execute project, scheduled to be completed by end of 2014.  Full Article

Technip to sell its subsidiary TPS
Tuesday, 8 Apr 2014 01:00am EDT 

Technip:Signed an agreement to sell to WSP its TPS subsidiary, which specializes in engineering and construction for the industry.The closing of the operation should take place within the first six months of 2014.  Full Article

Sevan Marine sells 49 pct in KANFA AS to Technip subsidiary
Friday, 4 Apr 2014 02:30am EDT 

Sevan Marine ASA:Sells 49.0 percent of shareholding in KANFA AS to Technip Norge AS, a wholly owned subsidiary of Technip S.A.Purchase price not disclosed.Following the transaction Sevan Marine holding in KANFA is 51 percent, while Technip will own 49 percent.Says the parties intend to further enhance KANFA's development opportunities and expand the business.KANFA is a topside and process technology specialist with activities primarily in the offshore oil and gas industry.  Full Article

Technip awarded Jangkrik Subsea package in Indonesia
Thursday, 6 Mar 2014 01:00am EST 

Technip:Awarded major subsea contract by Eni Muara Bakau B.V. (Eni) the Operator of the Muara Bakau PSC, for the Jangkrik project located in the Muara Bakau PSC working area, about 70 kilometers off the coast of Makassar Strait, Indonesia, at water depth ranging from 200 to 430 meters.Says it will also carry out the installation of 51 kilometers of umbilicals, five manifolds and seven SSIV((2))subsea structures and associated flying leads.Finally, the project also includes the engineering, procurement and construction of an onshore receiving facility including pig traps, metering systems and utilities.The project is scheduled to be completed in the first quarter of 2017.  Full Article

Technip wins contract to provide onshore FEED for commercial gas carbon capture and storage project in Scotland
Wednesday, 5 Mar 2014 01:00am EST 

Technip:Awarded contract by Shell UK Limited to provide front-end engineering design (FEED) for the onshore elements of the Peterhead Gas Carbon Capture and Storage (CCS) demonstration project in Aberdeenshire, Scotland.Says the project is designed to capture, compress and transport by pipeline one million tonnes a year of carbon dioxide to an offshore gas reservoir for long-term storage beneath the North Sea.Says the FEED scope includes a grassroots carbon capture and compression plant and modifications to an existing combined cycle gas turbine power plant.Technip's operating centre in Milton Keynes, UK, which executed a pre-FEED study for the Peterhead CCS project about 18 months ago, will execute the FEED for this next phase.  Full Article

Technip secures contract by Total E&P Borneo B.V in Brunei
Friday, 28 Feb 2014 01:00am EST 

Technip:Says it has been awarded a contract by Total E&P Borneo B.V., covering engineering, procurement, supply, construction and commissioning (EPSCC).Says this project aims at the modification of the onshore facilities as well as the construction of a new onshore pipeline.  Full Article

Technip proposes FY 2013 dividend
Thursday, 20 Feb 2014 01:00am EST 

Technip:Recommends raising FY 2013 dividend by 10 percent to 1.85 euro per share.  Full Article

M&A, upbeat results help European stocks resume rally

LONDON, April 24 - European shares resumed their rise on Thursday, boosted by mergers and acquisitions activity and upbeat updates from electrical gear maker Schneider Electric and oil services group Technip among others.

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