Contract Award for the Subsea Development of the Baobab Field Offshore Ivory Coast.Energy Editors/Business Editors PARIS--(BUSINESS WIRE)--Sept. 5, 2003 Technip (NYSE NYSE See: New York Stock Exchange :TKP TKP Türkiye Komünist Partisi (Communist Party of Turkey; formerly Sosyalist Iktidar Partisi, Party of Socialist Power) TKP Tulajdonképpen (Hungarian) TKP Tausender-Kontaktpreis TKP Tamarind Kernel Powder ) has been awarded, by CNR International (Cote d'Ivoire) SARL SARL South African Radio League SARL Société Anonyme à Responsabilité Limitée (French: limited liability company) SARL Salem Animal Rescue League (Salem, NH) SARL Sociedade Anónima de Responsabilidade Limitada , an EPIC (Engineering, Procurement, Installation, Commissioning) contract worth about US $125 million, for the subsea development of the Baobab baobab (bä`ōbăb', bā`ō–), gigantic tree of India and Africa, exceeded in trunk diameter only by the sequoia. The trunks of living baobabs are hollowed out for dwellings; rope and cloth are made from the bark and condiments oil field offshore Ivory Coast. CNR International (Cote d'Ivoire) SARL is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Canadian Natural Resources Limited Canadian Natural Resources Limited TSX: CNQ NYSE: CNQ is an oil and natural gas exploration, development and production company based in Calgary, Alberta. Operations are focused in Western Canada, the North Sea and offshore West Africa. . The Baobab field is located 65 km from Abidjan, in water depths ranging from 900 m to 1300 m. This contract mainly covers the design, procurement/fabrication and installation of rigid pipelines as well as flexible risers and free issue steel core umbilicals. It also includes the installation of manifolds and spoolpieces and the precommissioning of all pipelines and risers. The execution of this contract will be based mainly on Technip's own resources and assets: -- associated engineering and project management will be performed by Technip Offshore UK, based in Aberdeen, -- rigid pipelines will be welded at Technip's spoolbase at Evanton, Scotland, -- flexible risers will be manufactured at Technip's plant in Le Trait, France. The installation of the pipelines is scheduled for the last quarter of 2004 with the remaining subsea construction works to be completed during the first quarter of 2005. Following the recent award of the subsea development projects of the Dalia field in Angola and the Simian/Sienna and Sapphire fields in Egypt, this contract in Ivory Coast comes as a new success for Technip in the highly strategic African/Mediterranean deep offshore market. With a workforce of about 19,000 persons, Technip ranks among the top five corporations in the field of oil, gas and petrochemical engineering, construction and services. Headquartered in Paris, the Group is listed in New York and Paris. The Group's main engineering and business centers are located in France, Italy, Germany, the UK, Norway, Finland, the Netherlands, the United States, Brazil, Abu-Dhabi, China, India, Malaysia and Australia. The Group has high-quality industrial and construction facilities in France, Brazil, the UK, the USA, and Finland as well as a world-class fleet of offshore construction vessels. Technip trades under the symbol TKP on the NYSE and under the ISIN Isin (ĭs`ĭn), capital of an ancient Semitic kingdom of N Babylonia. The city became important after the third dynasty of Ur fell to the Elamites and the Amorites (c.2025 B.C.). The phase from c.2025–c.1763 B.C. FR0000131708 on the Euronext. |
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