Paris, January 25, 2007

Technip has successfully completed the world’s first open sea catamaran floatover(1) topsides(2) installation on the deepwater Kikeh Spar(3), on behalf of Murphy Sabah Oil Co. Ltd. and their partner Petronas Carigali Sdn Bhd, for the Kikeh field development offshore Malaysia.

Installation of the Spar topsides as a single integrated deck by the floatover method allows a high proportion of the hook-up and pre-commissioning work to be completed onshore prior to load-out, significantly reducing both the duration and cost of the offshore commissioning phase. The significance of Technip’s success of this world first operation is that the technique can also be used for future projects in other regions, where access to heavy lift vessels for topsides installation is constrained.

The Spar hull installation was performed in late October and early November 2006, with the actual deck floatover operation being performed on the 6th of November.

The engineering, procurement, construction, installation and commissioning (EPCIC) contract, for which the execution started in January 2005, is on schedule for complete delivery in 24 months. It includes the delivery of the Spar hull, of the topsides, and of the drilling and production risers(4) systems, as well as the marine installation, hook-up and commissioning of the facilities offshore Sabah, North Malaysia. This is currently the oil field developed in the deepest waters in South East Asia, and the first Spar application outside the Gulf of Mexico.

Technip’s operations and engineering center in Kuala Lumpur (Malaysia) is in charge of the project management and is executing the contract in conjunction with Technip Group entities in Perth (Australia), Houston (USA) and Pori (Finland). The hull and topsides were fabricated at the Malaysian Shipyard and Engineering Sdn Bhd facilities in Johor Bahru, (Malaysia), while installation was conducted by Technip’s fleet vessels.

Photos illustrating the Kikeh floatover are available upon request

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⁽¹⁾ Floatover: installation method of an integrated production deck (topsides) on a fixed or floating structure without any heavy lift operation. In the case of a catamaran floatover installation, the integrated topsides are positioned over the substructure using two lateral barges, achieving load transfer by ballasting and deballasting operations.

⁽²⁾ Topsides: surface installations allowing the drilling and/or production and/or processing of offshore hydrocarbons.

⁽³⁾ Spar: a cylindrical, partially submerged offshore drilling and production platform that is particularly well adapted to deepwater.

⁽⁴⁾ Riser: a pipe or assembly of flexible or rigid pipes used to transfer produced fluids from the seabed to surface facilities, and transfer injection or control fluids from the surface facilities to the seabed.