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Technip and COOEC Land China Subsea Deal

17 October 2012

Technip and its consortium partner Offshore Oil Engineering Co has been awarded a US$259 million engineering, procurement, installation and construction contract by China National Offshore Oil.

The contract is for work on CNOOC's South China Sea deepwater gas development project in the Panyu field, located about 150 kilometers south of Hong Kong.

The development consists of a new subsea production system with six wells connected to a new central processing platform, the French engineering company Technip said in a statement. The contract covers the supply and installation of pipelines, steel tube umbilicals and other equipment.

Technipís office in Kuala Lumpur, Malaysia, will manage the contract, while Kuala Lampur's Genesis, a subsidiary of Technip, will provide design and engineering support. Duco, headquartered in Houston and another subsidiary of Technip, will manufacture the umbilicals.

Installation will occur in two phases: the first in the third quarter of 2013 and the second in the latter half of 2014. Technip will use its deepwater construction vessel Deep Orient, which is currently under construction and scheduled for delivery next year, along with COOEC's pipelay vessel HYSY 201.