Market Overview

Technip Awarded Engineering & Design Contracts for a New Ethylene Production Plant at Dow Texas Operations

PARIS--(BUSINESS WIRE)--

Regulatory News:

Technip (Paris:TEC) was awarded by The Dow Chemical Company (NYSE: DOW) the front-end engineering and design (FEED) contract and cracking furnaces engineering and procurement services for a previously announced new large world-scale ethylene production plant to be located at Dow Texas Operations in Freeport, Texas. The Dow Chemical Company is the largest ethylene-based chemical producer in the world.

The new facility will be based on low-cost ethane feedstock. The products from the new plant will be utilized for Dow's downstream facilities in the Gulf Coast in Texas and Louisiana. Texas Operations is Dow's largest integrated manufacturing site worldwide and the largest single-company chemical complex in North America.

Technip's operating center in Claremont, California, will execute this contract. The FEED activities are targeted for completion in mid-2013.

Nello Uccelletti, Technip's Senior Vice President Onshore commented: “Technip is the largest ethylene licensor and contractor. We are proud to have earned the confidence of The Dow Chemical Company in Technip's experience and capabilities in the design and engineering of complete ethylene plants. This is the fourth new grassroots ethylene plant of The Dow Chemical Company worldwide that has been awarded back-to-back to Technip in the last 10 years for providing FEED services. This contract will be based on Technip's state-of-the-art proprietary technology, part of its portfolio of technologies recently expanded by the acquisition of Stone & Webster process technologies and associated oil and gas engineering capabilities.

Technip and its top management are appreciative of The Dow Chemical Company's confidence in its capabilities and Technip is committed to providing the FEED services for the new ethylene plant of quality equal to or better than Dow's expectations.

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Technip is a world leader in project management, engineering and construction for the energy industry.

From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 32,000 people are constantly offering the best solutions and most innovative technologies to meet the world's energy challenges.

Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.

Technip shares are listed on the NYSE Euronext Paris exchange and the USA over-the-counter (OTC) market as an American Depositary Receipt (ADR: TKPPK).

Public Relations
Christophe Bélorgeot, +33 (0) 1 47 78 39 92
Floriane Lassalle-Massip, +33 (0) 1 47 78 32 79
press@technip.com
or
Investor and Analyst Relations
Kimberly Stewart, +33 (0) 1 47 78 66 74
kstewart@technip.com
or
Apollinaire Vandier, +33 (0) 1 47 78 60 74
avandier@technip.com
or
Website
http://www.technip.com

 

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