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Press Release

Technip: a technological world first with a riser and lifting system contract for a subsea mining project

May 13, 2008

Paris, May 13, 2008


Technip has been awarded by Nautilus Minerals Singapore Pte Ltd. a services contract for a riser and lifting system for the Solwara 1 subsea mining operation. The Solwara 1 mine site, located offshore Papua New Guinea in approximately 5,500 feet of water, consists of seafloor massive sulphide deposits rich in copper and gold. This is the first commercial mining project for seafloor massive sulphides ("SMS").

The contract covers engineering and project management services for the delivery and commissioning of all components including the subsea pump, riser*, surface handling system and ancillary equipment.

The Technip-designed seabed to surface lifting system represents a major new technological application that opens new perspectives for the development of subsea mines.

Technip's operating center in Houston, Texas, will execute this contract.

This mining project represents a new addition to Technip's portfolio of deepsea engineering solutions. It will draw upon the Group's expertise as the world leader in subsea engineering and project execution for the oil and gas industry.