Technip-Coflexip: Contract Award for Offshore/Onshore Oil Fields Development in Abu Dhabi.

Energy Editors/Business Editors

PARIS--(BUSINESS WIRE)--May 5, 2003

Technip-Coflexip (NYSE:TKP) (Euronext:13170), in association with the National Petroleum Construction Company of Abu Dhabi (NPCC), has been awarded by Abu Dhabi Company for Onshore Oil Operations (ADCO), a lump sum turnkey contract worth US $566 million for the North East Abu Dhabi (NEAD) phase 1 project. Technip-Coflexip will be the leader of the association.

The contract, which does not require any third party financing, will come into force immediately. The new facilities are scheduled to come on stream during the last quarter of 2005.

The NEAD project phase 1 is aimed at increasing the oil production capacity from two fields:

-- the Al Dabb'iya field, which is considered as an offshore

field as most of the wells are located on low-lying natural

and artificial islands and interconnecting pipelines will be

in shallow water,

-- the onshore Rumaitha field, located in a desert area, 50 km

south west of Abu Dhabi City.

Both fields are situated in an environmentally sensitive area.

The main facilities under Technip-Coflexip's scope of work include a gathering system connecting all wells through a manifolds and flowlines network, two central processing plants to remove salt and water and separate gas out of oil, interconnections between the gathering system and the two central processing plants as well as pipelines to export oil to Bab. The plants will be monitored by a Distributed Control System and telecom system based on the most up-to-date technologies.

Under the terms of this contract, Technip-Coflexip/NPCC will supply engineering, procurement, construction and pre-commissioning as well as technical assistance to ADCO for start-up. The Front End Engineering Design for the project had been previously completed by Technip-Coflexip under a separate contract.

This project will be carried out by Technip-Coflexip's engineering center based in Paris, France, with support of the Group's affiliate in Abu Dhabi. Technip-Coflexip's engineering center in Dusseldorf, Germany, will be in charge of the offshore/onshore pipelines package, NPCC, in addition to sharing the procurement activities, will be in charge of the construction of the control processing plant and clusters of Al Dabb'iya field.

This new contract award adds to the remarkable list of Technip-Coflexip's references in Abu Dhabi including several other large turnkey projects such as the Habshan gas complex (OGD1 and OGD2) for ADNOC, the Ruwais gas plant expansion for GASCO and the current Ruwais refinery expansion for TAKREER.

With a workforce of about 19,000 persons, Technip-Coflexip 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 (NYSE:TKP) and in Paris (Euronext:13170). The main engineering and business centers of Technip-Coflexip 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.