Press Release

Paris, January 21, 2008

Technip has been awarded two major contracts by Petrobras America, a subsidiary of Petrobras (NYSE: PBR/PBRA), worth a total of over USD 300 million, for the development of the Cascade and Chinook gas fields, located in the Walker Ridge area of the Gulf of Mexico, in 8,200 and 8,800 feet of water, respectively.

The first contract covers the engineering, procurement, construction and installation (EPCI) of five free standing hybrid riser⁽¹⁾ systems for both Cascade and Chinook fields.

The second contract covers the installation of the Cascade infield flowlines⁽²⁾ and gas export pipeline and includes:

• welding of approximately 120km of 6” and 9” steel pipelines,
• design and fabrication of 10 PLET⁽³⁾ and 2 in-line tees⁽⁴⁾,
• installation of the pipelines and associated structures.

Technip’s operating center in Houston, Texas, will execute the contracts. The pipelines will be welded at the Group’s spoolbase in Mobile, Alabama.

Offshore installation is scheduled to commence in the third quarter of 2009, using Technip’s vessels Deep Blue and Constructor.

⁽¹⁾ 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.
A free standing hybrid riser is a type of riser consisting of a vertical rigid pipe section between the seabed and a submerged buoy and a catenary flexible pipe jumper between the submerged buoy and the floater.

⁽²⁾ Flowline: a flexible or rigid pipe, laid on the seabed, which allows the transportation of oil/gas production or injection of fluids. Its length can vary from a few hundred meters to several kilometers.

⁽³⁾ PLET: pipeline end termination.

⁽⁴⁾ In-line tee: a submarine structure installed in-line with the pipeline to allow the tie-in of subsea equipments.

With a workforce of 23,000 people, Technip ranks among the top five corporations in the field of oil, gas and petrochemical engineering, construction and services. The Group is headquartered in Paris.
The Group’s main operating centers and business units are located in France, Italy, Germany, the UK, Norway, Finland, the Netherlands, the USA, Brazil, Abu-Dhabi, China, India, Malaysia and Australia.
In support of its activities, the Group manufactures flexible pipes and umbilicals, and builds offshore platforms in its manufacturing plants and fabrication yards in France, Brazil, the UK, the USA, Finland and Angola, and has a fleet of specialized vessels for pipeline installation and subsea construction.