New Spar Awarded to Technip by Kerr-McGee for the Constitution Field in the Gulf of Mexico.Energy Editors/Business Editors PARIS--(BUSINESS WIRE)--Feb. 25, 2004 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 ) and (Euronext: FR0000131708), through its U.S. subsidiary Technip Offshore Inc. based in Houston, has been awarded a contract by Kerr-McGee Oil & Gas Corp., a wholly owned affiliate of Kerr-McGee Corp. (NYSE:KMG), for the engineering and construction of a spar floating production platform hull and the engineering and delivery of the associated moorings and production riser system for the Constitution field in the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east . The Constitution field, 100% owned and operated by Kerr-McGee, is located in the Gulf of Mexico's Green Canyon blocks 679 and 680, 190 miles southwest of New Orleans in 5,000 feet of water. Technip's engineering center based in Houston will provide the global engineering, as well as the engineering and procurement of the riser system. The detailed hull design and fabrication will be carried out by Technip's yard, located at Mantyluoto, Finland. The hull for Constitution will be 554 feet long, with a diameter of 98 feet. It will have a displacement of 59,250 tons and a steel weight approaching 15,000 tons. Delivery of the spar hull is scheduled for 2005, in support of first production by mid-2006. Svein Eggen, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Technip Offshore Inc., stated: "The Constitution spar will be the sixth advanced deepwater floater Floater A bond or other type of debt whose coupon rate changes with market conditions (short-term interest rates). Also known as "floating-rate debt". Notes: For example, a floater bond may have the coupon rate set at "T-bill rate plus 0.5%". system engineered and fabricated for Kerr-McGee by Technip. We are proud and honored to have been selected to provide another spar hull and be able to contribute to our client's successful deepwater exploration and development program in the Gulf of Mexico." 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 U.K., 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 U.K., the U.S., Finland and Angola as well as a world-class fleet of offshore construction vessels. Technip's shares trade on the following exchanges: REUTERS: TECF TECF Trusted Electronic Communications Forum .PA; SICOVAM SICOVAM Société Interprofessionelle pour la Compensation des Valeurs Mobilières : 13170; Ticker (NYSE): TKP; Bloomberg: TEC FP/TKP US; Isin: FR0000131708 |
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