Press Release

Technip has been awarded, by Hovensa, a lump sum turnkey contract for a new hydrotreating unit to be located at its refinery in St. Croix, US Virgin Islands. The 495,000 barrels per stream day St. Croix Refinery is one of the world’s largest refineries.

The 50,000 barrels per stream day low sulfur FCC (Fluid Catalytic Cracker) gasoline hydrotreater, based on ExxonMobil Research and Engineering Company's SCANfining TM process technology will produce low-sulfur gasoline in compliance with the new gasoline regulation in the USA.

Technip’s engineering center in Rome (Italy) will carry out the contract, which covers the front-end and detail engineering, procurement and supply of equipment and materials, construction, pre-commissioning, commissioning and assistance to start-up. The project is slated to be completed in November 2006.

For Technip, this new award is a step towards further strengthening its presence in the Caribbean, after the successful completion of the vast modernization of the ISLA Refinery in Curacao (Netherlands Antilles).

Hovensa is a joint Venture owned in equal parts by subsidiaries of PDVSA (the State-owned Venezuelan oil company) and Amerada Hess, a leading US oil company.

With a workforce of about 19,000 persons, Technip ranks among the top five corporations in the field of oil, gas and petrochemical engineering, construction and services. Headquartered in Paris, the Group is listed in New York and Paris. The Group’s main engineering and business centers are located in France, Italy, Germany, the UK, Norway, Finland, the Netherlands, the United States, Brazil, Abu-Dhabi, China, India, Malaysia and Australia. The Group has high-quality industrial and construction facilities in France, Brazil, the UK, the USA, Finland and Angola as well as a world-class fleet of offshore construction vessels.