Technip to Start Construction Work for the Heidelberg Spar

Regulatory News:

Technip (Paris:TEC) received instructions from Anadarko Petroleum Corporation to begin the engineering, construction and transport of a 23,000-ton Truss Spar⁽¹⁾ hull for their Heidelberg field development. This field is located in the US Gulf of Mexico, at a water depth of 1,620 meters (5,310 feet).

The Letter of Intent allows Technip to begin construction work on the project and other early works including purchase of long-lead items for the hull and start of fabrication, in advance of the expected project sanctioning around mid-2013, after which it will enter into Technip's backlog.

The Heidelberg Spar⁽²⁾ will have a capacity of more than 80,000 barrels of oil and 2.3 million cubic meters of natural gas per day.

Technip’s operating center in Houston, Texas will provide the overall project management and engineering. The detailed hull design and fabrication will be carried out by Technip’s construction yard in Pori, Finland where most of Technip’s Spar projects have been manufactured.

David Dickson, Technip’s Senior Vice President, North America Region, has declared: "Technip is really proud to have received this Letter of Intent. Not only does it strengthen our long-lasting relationship with Anadarko but it also confirms its continuous trust in the Group’s extensive know-how and expertise in Spar technology. After Lucius, awarded last year and currently being built in our yard in Pori, Heidelberg will be the 8^th Spar delivered by Technip to Anadarko.”

The Heidelberg Spar will be the 17^th delivered by Technip (out of 20 worldwide) and thus demonstrates the Group’s leadership for this kind of floating platform and ability to tackle ultra-deepwater developments. It also confirms Pori’s track record expertise and great capabilities to deliver state-of-the-art platforms.

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⁽¹⁾ Spar: a cylindrical, partially submerged offshore drilling and production platform that is particularly well adapted to deepwater.

⁽²⁾ The Heidelberg Spar will be jointly owned by Anadarko (44.25%), Eni (12.5%), Apache Deepwater LLC (12.5%), Statoil (12%), ExxonMobil (9.375%), and Cobalt (9.375%).

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