Press Release

Technip has signed a Letter of Intent with Qatar Petroleum, ChevronPhillips Chemical Company LLC, Qatar Petrochemical Company and Total Petrochemicals in view to execute an engineering, procurement and construction (EPC) contract worth above 800 million US$ for the realization of an ethylene cracker located at Ras Laffan in Qatar.

This plant, with a capacity of 1.3 million tones per annum, will be one of the most important production crackers to be built in the world. The cracker will provide ethylene feedstock to two derivative units (polyethylene and normal alpha olefins) to be built in Mesaieed, Qatar. The project will be carried out on a lump sum turn key basis and is scheduled for completion in 2008.

Technip has an outstanding track record in performing major turn key projects in Qatar, including two successfully completed ethylene plants.

As a result of its proprietary technology, Technip is a major player in the field of ethylene and is one of the few world-class groups capable of assuming complete responsibility, from conceptual design to turnkey design and construction, for ethylene crackers.

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.