Technip and Zachry Awarded Chevron Phillips Chemical’s Polyethylene Project in the US

Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) and Zachry Industrial, in a partnership called Gulf Coast Partners, have been awarded a substantial contract* to design and build two Polyethylene Plants for Chevron Phillips Chemical Company LP (Chevron Phillips Chemical) as a part of its US Gulf Coast Petrochemicals project in Old Ocean, Texas, USA.

The scope of work includes the design, supply and installation of two 500,000 metric tons per annum Polyethylene Plants, together with the related offsites, utilities and rail yard. The two new Polyethylene Plants will be built adjacent to the existing Chevron Phillips Chemical facility at Old Ocean. Detailed design has started and on-site mobilization will commence in the first half of 2014.

The partnership combines the strengths of both organizations. Technip’s operating center in Houston will provide detailed design and field support. Zachry will be responsible for construction. Technip and Zachry will jointly manage global procurement.

The Polyethylene Plants are part of Chevron Phillips Chemical’s US Gulf Coast Petrochemicals project, which includes a new grassroots Ethylene Plant at Cedar Bayou, Texas, USA designed by Technip Stone & Webster Process Technology and including the supply of proprietary furnaces and equipment. Following its acquisition of Stone & Webster process technologies last year, Technip leverages a wider offer in Onshore and has strengthened its downstream business leadership.

David Dickson, Technip’s Senior Vice President, North America Region, comments: "We are delighted to have been awarded this flagship project and to continue our long-standing relationship with Chevron Phillips Chemical. This award recognizes our outstanding expertise in petrochemical and polymer projects as well as Zachry’s long standing position as a premier Gulf Coast construction partner.”

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* For Technip, a "substantial” onshore contract is ranging from €250 to 500 million (Technip’s part of the contract).

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