Technip signs contract worth US$ 2.1 billion

Technip has won a five year contract with Petrobras that will see the French services company supplying around 1400 km of flexible piping.

According to Technip, the contract entails the production of more than 150 different types and sizes of piping, risers, flowlines, and other related equipment.

The contract begins immediately and is guaranteed to provide orders of up to 50% of the total contract value. Technip has stated that supply should begin in 2013, with the pipes being manufactured in its two Brazil-based facilities at Vitoria and Acu.

A statement released by Technip on Wednesday said the following, “This award confirms the strong rationale of the investment announced last year in a second flexible pipe plant in Brazil capable of delivering a range of technologically advanced, high-end flexible pipe products to meet the demand growth and evolving technology requirements we expect in the Brazilian market.”

The contracted work is scheduled to take place over the course of the next five years.

Published on 09/02/2012

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