Middle East subsea deal
Technip has landed a new subsea construction deal for a development offshore the UAE in the Middle East.
Under a new EPIC contract covering the South West Fatah and Falah fields, in a water depth of 53 metres (173 feet).
Technip has been selected to provide services for installation of a replacement 12-inch gas pipeline which is due to be carried out before the end of this year, and six 18-inch was injection lines.
Installation will be carried out by the S-lay vessel G1201 and the work comes after the company acquired market position in the region and assets with the buy-out of Global Industries last year.
Technip’s buyout of Global last year valued Global at approximately US $1.073 billion, including $136 million of net debt.