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Press Release

Technip consortium awarded Turnkey contract for Vietnam's first Grassroot Refinery

May 17, 2005

Technip, leader in a consortium with JGC and Tecnicas Reunidas, has been awarded by Vietnam Oil & Gas Corporation (Petrovietnam) a lump sum turnkey contract for the engineering, procurement and construction of Vietnam’s first crude oil refinery to be located in Dung Quat, south of Da Nang in central Vietnam.

The project includes the refinery and the crude oil import facilities. This refinery is designed to have a processing capacity of 145,000 BPSD, which will serve the domestic market and reduce the country’s oil product imports.

Technip’s engineering centers in Paris (France) and in Kuala Lumpur (Malaysia) will carry out the engineering, procurement and construction contract.

Mechanical completion of the refinery is due 36 months from contract award.

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