Technip, Dof Announce Petrobras Pipeline Contract

August 13, 2013

French group Technip and a Norwegian firm have won contracts worth 1.35 billion euros involving the construction of the biggest pipe-laying ships of their type for Brazil, Technip said on Monday.

Technip, an oil services group, and Norwegian shipping group DOF, said that they had won eight contracts totalling 1.35 billion euros ($1.8 billion) from Brazilian oil group Petrobras to lay flexible pipelines at great depth, AFP reports.

The news pushed the price of shares in Technip up 1.50 percent to 84.75 euros. The overall French market as measured by the CAC 40 index was down by 0.04 percent.

The contracts, won by a joint venture between Technip and DOF, are for the construction and operation of four pipe-laying ships which will put down flexible lines within Brazilian waters.

The work on designing and building the ships is to be carried out by Vard, a Norwegian shipbuilding company which is quoted on the stock exchange in Singapore and is majority-owned by Italian company Fincantieri.

Two of the ships will have the ability to lay flexible pipes under tension of 650 tonnes, which Technip said was the biggest such capacity for flexible pipes in the world.

This would permit the laying of big-diameter pipelines at exceptionally great depths off Brazil.

Copyright, 2013 AFP.