Technip clinches subsea contract in Brazil

RIO DE JANEIRO, October 27, 2015 – Technip has been awarded a subsea contract offshore Brazil for the provision of flexible pipes to the Libra pre-salt field, according to a statement released by the French engineering company on Tuesday.

Technip will supply flexible pipes for the Libra pre-salt field, located in the Santos Basin. These pipes will be designed to produce the first oil from the Libra field, which is estimated to contain between 8 billion and 12 billion barrels of recoverable resources.

The exact value of the contract has yet to be disclosed. Delivery is slated for the second half of 2016.

The subsea contract was awarded by Libra Oil & Gas, which is a consortium composed of Petrobras (40 percent), Shell (20 percent), Total (20 percent), China National Offshore Oil Corporation (10 percent) and China National Petroleum Corporation (10 percent).

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