Technip-Subsea 7 Joint Venture Awarded Contract in New Zealand for the Tui Area Development.PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. -- Technip-Subsea 7 Joint Venture announced today that they have been awarded a contract by New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. Overseas Petroleum Limited for the Tui Area development, located approximately 30 miles off the Taranaki coastline, New Zealand, in a water depth of 125 meters. The joint venture contract, valued around US $30 million, includes the project management, engineering, transportation, installation and pre-commissioning of approximately: * 15 kilometers of flexible flowlines(1), flexible risers(2) and associated mid water arch systems, * 15 kilometers of coiled tubing gas lift pipeline, spoolpieces, diverless connectors, and * 15 kilometers of electro hydraulic umbilicals(3) and various associated components. The contract will be executed by the joint venture teams based in Singapore and Perth (Australia) and Technip's operations and engineering center in Houston (Texas). The flexible flowlines and risers will be fabricated by Flexi France, one of Technip's flexible pipe plants located in Le Trait (France), under a separate supply contract. (1) Flexible flowline: a flexible pipe, laid on the seabed, which allows the transportation of oil/gas production or injection of fluids. It is generally an infield line, linking underwater structures to each other or to a fixed or floating production facility. Its length can vary from a few hundred meters to several kilometers. (2) Flexible riser: a pipe or assembly of flexible pipes used to transfer produced fluids from the seabed to surface facilities, and transfer injection or control fluids from the surface facilities to the seabed. (3) Umbilical: an assembly of hydraulic hoses which can also include electrical cables or optic fibres, used to control subsea Subsea is a general term frequently used to refer to equipment, technology, and methods employed to explore, drill, and develop oil and gas fields that exist below the ocean floors. This may be in "shallow" or "deepwater". structures or remotely operated vehicles (ROV ROV Remotely Operated Vehicle ROV Real Options Valuation ROV Return on Value ROV Range of View ROV Rostov, Russia - Rostov (Airport Code) ROV Roll-Over Valve (automotive fuel tanks) ROV Range of Value ) from a platform or a vessel. About the companies: Technip With a workforce of 22,000 people, Technip (Paris:TEC) (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 ) (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) 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 New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Paris. The Group's main operations and engineering centers and business units are located in France, Italy, Germany, the UK, Norway, Finland, the Netherlands, the USA, Brazil, Abu-Dhabi, China, India, Malaysia and Australia. In support of its activities, the Group manufactures flexible pipes and umbilicals, and builds offshore platforms in its manufacturing plants and fabrication yards in France, Brazil, the UK, the USA, Finland and Angola, and has a fleet of specialized vessels for pipeline installation and subsea construction. Subsea 7 Subsea 7 is one of the world's leading subsea engineering and construction contractors with a workforce in excess of 4000 people worldwide. The Company's global offshore operations are supported out of Asia Pacific, Brazil, 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 , Norway, UK and West Africa. Subsea 7 has more than 100 remotely operated vehicles (ROVs), five pipeline construction yards and a fleet of modern, high-specification dynamically-positioned ships capable of reeled and flexible pipelay, deepwater subsea construction and saturation diving.
Technip's website is accessible at http://www.technip.com
Subsea 7's website is accessible at http://www.subsea7.com
Technip trades under the symbol TKP on the NYSE and under the ISIN FR0000131708 on the Euronext. Subsea 7's shares trade on the Oslo Stock Exchange Oslo Stock Exchange An exchange founded in 1819 and trading stocks, bonds, and stock options that is considered the options market of Norway. (www.ose.no): Ticker Code SUB. |
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