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Technip: Signature of the contract for a major ethylene and propylene plant in Saudi Arabia

12.20.2005

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Paris, December 20, 2005

Technip has signed a contract with Saudi Basic Industries Corporation (SABIC) for the construction of a large-scale ethylene and propylene production plant at the Yansab Complex in Yanbu Industrial City, on the Red Sea coast of Saudi Arabia. This contract, effective as of May 11 2005 the execution date of the relevant Letter of Intent, covers basic and detail engineering, procurement and supply of materials, construction, pre-commissioning, commissioning and training of the owner’s personnel.


The plant, with a production capacity of 1.3 million mt/year of ethylene and 400 thousand mt/year of propylene, will play a key role in SABIC’s ambitious plan to significantly increase production of basic petrochemicals, intermediates and polymers by 2008.


Technip’s operations and engineering center in Rome (Italy) is executing the contract on a lump sum turnkey basis. The construction of the facilities will be handled by Technip Saudi Arabia. The project is scheduled to be completed in April 2008.


The plant will be based on Technip’s in-house technology and the proprietary SMK™* cracking furnaces will be provided by Technip Benelux. These world-scale gas cracking furnaces will handle both ethane and propane feedstocks.


This new project joins the remarkable list of Technip references in Saudi Arabia, including several other large projects for SABIC.
Technip is a leader in the field of ethylene production and is one of the few world-class groups capable of assuming complete responsibility for steam crackers, from conceptual design to turnkey design and construction.


* Technip’s SMK™ technology has become the preferred choice of various ethylene producers for cracking gas feeds.

 

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With a workforce of about 20,000 people, 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 operations and engineering 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.

 
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Technip
Laurence Bricq
Ph.: +33 (0) 1 47 78 26 37
Fax: +33 (0) 1 47 78 24 33
lbricq@technip.com

Marina Toncelli
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mtoncelli@technip.com

 Investor and Analyst Relations:
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Xavier d’Ouince
Ph.: +33 (0) 1 47 78 25 75
Fax: +33 (0) 1 47 78 67 58
xdouince@technip.com
 
 

Technip trades under the symbol TKP on the NYSE and under the ISIN FR0000131708 on the Euronext.