Technip swings to loss as oil industry downturn lasts
Technip SA swung to a loss in the second quarter after Europe’s biggest oil-services provider took a writedown amid an industry downturn it expects to last for longer than anticipated.
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Technip wins major Far East Petronas contract
Technip has won the contract to deliver offshore brownfield and subsea tie-backs for Petronas' first floating liquified natural gas facility (PFLNG1) east of Malaysia.
Technip man takes helm at IMCA
The International Marine Contractors Association (IMCA), which represents more than 1,000 engineering businesses worldwide, has appointed a new president.
Technip lands double Egypt win
Technip has landed work for two projects in Egypt, including refining a “bottom of the barrel” frame.
Offshore worker injured on vessel near North Sea oil field
An offshore worker has been airlifted to hospital after injuring himself on a vessel near BP’s Schiehallion oil field, west of Shetland. The man was working on the North Sea Atlantic supply ship, run by Technip UK, when the incident took place at around 3.15pm.
Technip’s Richard Wylie relishing challenge of mammoth Quad 204 project
As Technip’s project director for the £800million Quad 204 project, Richard Wylie is tasked with restoring one of the North Sea’s prized assets at a crucial time for the industry. The project involves the redevelopment of the Schiehallion field, 110miles west of Shetland, and the target is to squeeze another 25 years and 450million barrels of oil out of it. The BP-operated field started producing in 1998, but the old FPSO, which was towed away last year, now needs to be replaced along with subsea infrastructure.
Technip secures trans-Adriatic pipeline contract
Technip has secured a project management services contract with Trans Adriatic Pipeline (TAP) to transport gas from the Shah Deniz field to the European market.
Technip says too early for North Sea numbers
A Technip spokesman has denied reports that the firm has earmarked 400 North Sea jobs to go.
North Sea workers at risk as Technip cuts 6,000 jobs
A major offshore firm which employs 1,000 people in the North Sea announced it was axeing 6,000 jobs worldwide. Technip said the move was part of plans to slash costs by £600million amid the “prolonged” and “harsh” oil slowdown. The company said it was too early to say exactly where the cuts would be made, but they represent about 16% of its global workforce. But it also insisted it remained committed to investing in new technology and projects across all over the world.
Energy giant Technip to cut 6,000 jobs
French oil industry engineering and construction group Technip will cut 6,000 jobs and book a 650 million euro ($719 million) restructuring charge as it steps up cost-cutting.
Technip wins FPSO conversion contract
Technip has struck a deal with Jurong Shipyard to convert a shuttle tanker into a floating, production, storage and offloading (FPSO) vessel.
Technip to mark National Women in Engineering Day
French energy services giant Technip will mark National Women in Engineering Day with an open evening at its UK headquarters in Westhill tonight. on Tuesday, June 23rd from 6pm-7.30pm. Following the success of a similar event last year, Technip’s UK operating centre has invited young women interested in a career in engineering to come along to find out more about the industry and the company’s work in the subsea sector.
Technip nets Chevron decommissioning contract
Technip has been awarded a contract for the decommissioning of the brownfield development and installation of subsea equipment in the Gulf of Mexico by Chevron. The company said the lump sum project will help support a floating production system located in the Mississippi Canyon. The work includes project management and engineering, decommissioning of existing equipment and pre-commissioning and testing.
Technip sees subsea profits rising
French oil services company Technip has seen its subsea division outperforming this year as it revealed its first quarter results. The company said it was expecting an adjusted operating profit in its offshore and onshore division, which it had previously estimated would be between €250million and €290million this year. The company's offshore and onshore division builds oil rigs, refineries and liquefied natural gas (LNG) plants and accounts for more than half of its revenue.
Technip subsidiary awarded Peru pipeline contract
Technip's Colombian subsidiary, Tipiel, has been awarded a front-end engineering design and detailed engineering design contract on a lump-sum basis. The deal, which was awarded by the Consorcio Constructor Ductos del Sur, is for the development of a new gas pipeline to transport gas from the Camisea field to Southern Peru. The project was launched by the Peruvian government and consists of more than 1,700 kilometres of 32" gas pipeline.
Technip wins North Sea FPSO contract
Technip has been awarded a brownfield subsea contract by Dana Petroleum for work in the North Sea. The agreement is for work on the Triton floating production storage and offloading (FPSO) vessel which is located 193 kilometres east of Aberdeen. It produces oil and gas from different fields including Bittern, Guillemot West and North West, Clapham, Pict and Saxon, which are tied back to the FPSO vessel via subsea facilities. Bill Morrice, managing director of Technip in the UK, said: “The scope of the 2015 campaign was defined by Dana and its Triton partners, as a result of a successful detailed riser life extension study executed by Technip in the UK late 2014.
Technip scoops Lulu Alto contract
Technip has been awarded a contract from Tupi BV for the ongoing development of the Lula Alto field in the Santos Basin pre-salt area, worth more than €500million. The agreement with the company, which is a consortium composed of Petrobas Netherland, BG and Galp, covers the supply of around 200kilometres of flexible pipes and associated equipment. Technip’s operating centre in Rio De Janeiro will perform the project management and engineering.
Technip wins West of Shetland contract
Technip has been awarded a subsea contract for the Glenlivet project in the West of Shetland. The company will carry out work including the fabrication and installation of production pipeline, supply and installation of steel tube umbilical and supply and installation of flexible tails. The contract builds on a previous award by Total E&P UK of the contract for the Edradour Subsea development, which is located 75km north west of Shetland.
Technip promises revenue growth in 2015
Technip SA, France’s largest oil engineer, promised revenue and profit growth in 2015 even after the decline in crude prices forced the industry to cut capital spending. “For 2015, based on our record 21 billion-euro ($24 billion) backlog, we are able to give clear guidance for revenue and profit growth,” Chief Executive Officer Thierry Pilenko said. Fourth-quarter adjusted earnings before interest, tax, depreciation and amortization at the Paris-based company rose 21% to 319.2 million euros, beating the 280.2 million-euro average of six analyst estimates compiled by Bloomberg. Revenue advanced 14% to 2.82 billion euros.
SBM Offshore hires former Technip president
SBM Offshore has reintroduced its chief operating officer position with the appointment of a former Technip president. Philippe Barril has also been appointed as a member of the company’s management board. Mr Barril served in a number of different roles with Technip including as executive vice president and as chief operating officer of both onshore and offshore.
Technip wins €100million terminal contract in India
Technip has won a €100million contract to build an onshore terminal in India as part of the intergrated development of the Vashishta and S1 fields. The award, from the ONGC (Oil and Natural Gas Corporation Limited), is one of the critical componenets in the development of the fields. The contract will include basic design, detailed engineering, procurement and fabrication of the new onshore terminal facilities which will be integrated into the existing terminal.
Technip abandons plan to take over seismic surveyor CGG
Technip SA (TEC), Europe’s biggest oil-services company, said it plans to expand in upstream businesses even after a bid to buy French seismic surveyor CGG SA (CGG) failed on price and industrial considerations. “We have turned a page on this subject,” Technip Chief Executive Officer Thierry Pilenko said. The company said in a statement on Sunday evening that it doesn’t intend to make an offer for CGG. CGG slumped 33% at 9:37 a.m. in Paris trading, while Technip climbed 8%.
Technip wins Statoil contract
Technip has been awarded a Norwegian subsea contract in the Gullfaks field by Statoil. The French services company has signed the lumpsum contract for the Gullfaks Rimfaksdalen (GRD) Marine Operations Pipelay and Subsea Installation project. Work carried out by Technip could include a subsea tie-back to a new Wye piece on an existing pipeline close to the Gullfaks A platform.
Technip wins Brazilian contract
Technip has been awarded a contract from a consortium controlled by Petrobas Netherland BV for work in the Santos Basin pre-salt area. The scope of work will include supplying 114km of flexible pipes including gas lift, gas injection and gas export lines in the ongoing development of the Iracema North field. The flexible pipes will be produced at Technip’s manufacturing sites of Vitoria and Acu.
Seismic specialist rebuffs £1.2bn bid from Technip
Struggling seismic surveyor CGG has knocked back a £1.2billion takeover bid from French energy services giant Technip amid a nosedive in oil prices that has sparked a sector-wide consolidation drive. Technip, which has about 1,400 staff at its Aberdeenshire headquarters in Westhill, made the approach earlier this month. Commenting yesterday on its decision to rebuff the offer, CGG said that "the conditions to pursue were not met."