Paris, July 10, 2006
Technip has signed a contract for engineering, procurement and construction (EPC) of Al Khaleej Gas Phase 2 Project (AKG-2) with RasGas Company Limited, acting on behalf of ExxonMobil Middle East Gas Marketing Limited.
This contract for a gas processing train, with a capacity to support gas sales of 1,250 million standard cubic feet per day (MSCFD) of natural gas, will be executed by the Technip/Chiyoda Joint Venture (CTJV). The value of the contract exceeds US$ 1.6 billion.
After its completion in 2009, AKG-2 Project will produce sales gas to satisfy the increasing domestic gas demand in Qatar and eventually contribute to further development of the Qatari industrial infrastructure. The AKG-2 train will also have the capacity for ethane recovery.
Both Technip and Chiyoda have vast experience in Qatar and in gas projects in particular. Technip recently completed the first gas-to-liquid (GTL) plant in Qatar. This unit is fed by the Al Khaleej Gas Phase 1 (AKG-1) plant, which has a gas sales capacity of 750 million cubic feet per day and was completed in 2005 by Chiyoda. CTJV is currently executing the world’s 6 largest liquefied natural gas (LNG) trains, each with a capacity of 7.8 million tons per annum, in Ras Laffan, Qatar.
The lessons learned from the AKG-1 Project and the ongoing LNG projects in the region will contribute to the success of AKG-2 Project, allowing for rapid monetization of the gas reserve due to fast-track project execution and synergies from the simultaneous execution of other projects, in particular the RasGas (3) LNG Trains 6 and 7. In addition, AKG-2 Project will benefit fully from CTJV’s innovative new execution approach using the Reliability Enhancement Program, a continuous improvement program based on the analysis of completed projects.
* * *
With a workforce of 21,000 people, Technip 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 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.