Press Release

Paris, August 13, 2008

Technip has been awarded by Premcor Refining Group, Inc. (a Valero subsidiary) an engineering, procurement, construction and management (EPCM) contract for part of the $2.4 billion major expansion of its Valero Port Arthur Refinery located in Texas, USA.

Technip’s scope of work consists of:

• two processing units, including a saturate gas recovery unit and an amine treatment unit,
• offsites associated with the expansion of the refinery.

The expansion is expected to boost overall refinery throughput capacity to 415,000 barrels per day making it one of the largest refineries and giving Valero more capacity to process heavy sour feedstocks.

Technip’s operating center in Houston, Texas, will execute the contract. Mechanical completion of the project is scheduled in the fourth quarter of 2010.

With a workforce of 23,000 people, Technip is one of the leading companies 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.