Technip awarded spar platform contracts for the deepwater Tahiti field development in the Gulf of Mexico

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September 15, 2005

Technip has been awarded an important engineering, procurement and construction contract by Chevron for delivery of the Spar hull and mooring systems for the deepwater Tahiti Field Development Project. Chevron has also awarded Technip a contract for the fabrication of the topsides modules.

The Tahiti field is located in the Gulf of Mexico in Green Canyon blocks 596, 597, 640 and 641 in 4,200 feet of water, approximately 190 miles southwest of New Orleans (Louisiana).

The Tahiti facility will have the capacity to produce 125,000 BOPD of oil and 70 MMSCFPD of gas and treat 120,000 BWPD of produced water. The topsides facility will be comprised of a 9,950-ton production module, 6,500-ton utility module and a 2,500-ton module support frame. The topsides will be supported by the Technip designed deepwater Spar hull that will be approximately 170 meter long, with a diameter of 39 meter and a steel weight of approximately 24,000 mt.

The detailed hull and moorings design, procurement and fabrication will be carried out by Technip’s yard in Pori (Finland). The fabrication of the topsides by Gulf Marine Fabricators, the Group’s yard located near Corpus Christi (Texas), is scheduled to begin in Q4 2005.

Delivery of the Spar hull to the Gulf of Mexico and fabrication of the topsides is scheduled for completion in mid-2007.

Chevron is the operator of the Tahiti Project with 58 percent working interest. Tahiti partners are Statoil (25 percent working interest) and Shell Exploration & Production Company (17 percent working interest).

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