Press Release

Paris, October 15, 2008

Technip has been awarded by Repsol Polimeros (a subsidiary of Repsol YPF, Spain) a lumpsum turnkey contract, worth approximately €35 million, for the supply of two new furnaces for an existing steamcracker⁽¹⁾ located in Sines, Portugal.

Technip’s operating center in Zoetermeer, The Netherlands, will execute this contract, which covers basic and detailed engineering, procurement and supply of materials, construction and both pre-commissioning and commissioning.

These new furnaces will be based on Technip’s proprietary GK6⁽²⁾ cracking furnace technology and will expand the Repsol plant capacity by 160,000 tons. The furnaces are scheduled to be completed in 2010.

With this project, Technip confirms its leadership position in ethylene production facilities. It is one of the few companies capable of providing a complete range of services for ethylene crackers, from conception to turnkey design and construction.

⁽¹⁾ Steamcracker: petrochemical installation using steam to crack hydrocarbon molecules in order to produce ethylene and propylene.

⁽²⁾ GK6 technology: Technip proprietary technology that allows the furnace to operate on a range of feedstocks from naphta to heavy oils, with a very high selectivity and a long on-stream time. The GK6 technology is used in all Technip steamcracking units operating on liquid feedstocks, as well as in upgrading existing furnaces.

Technip is a world leader in the fields of project management, engineering and construction for the oil & gas industry, offering a comprehensive portfolio of innovative solutions and technologies.

With 23,000 employees around the world, integrated capabilities and proven expertise in underwater infrastructures (Subsea), offshore facilities (Offshore) and large processing units and plants on land (Onshore), Technip is a key contributor to the development of sustainable solutions for the energy challenges of the 21st century.

Present in 46 countries, Technip has operating centers and industrial assets (manufacturing plants, spoolbases, construction yard) on five continents, and operates its own fleet of specialized vessels for pipeline installation and subsea construction.