Technip, DOF get $1.8 billion in pipelay contracts

8/12/2013

Technip, DOF gets $1.8 billion in pipelay contracts

BY INTI LANDAURO

PARIS -- Technip said its joint venture with DOF Installer secured contracts to supply equipment to Petrobras. Technip's share of the contract is worth $1.80 billion.

The JV formed by Technip 50% and DOF 50% was awarded by Petroleo Brasileiro eight contracts. These contracts cover the construction of four new pipelay support vessels and operation in Brazilian waters to install flexible pipes.

Two of the ships will have a 300 tons laying tension capacity and will be fabricated in Brazil with a high national content. The other two vessels will be designed to achieve a 650 ton laying tension capacity, thus enabling the installation of large diameter flexible pipes in ultra deepwater environments, such as the Brazilian pre-salt.

Vard Holdings, a designer and shipbuilder of offshore and specialized vessels, will be in charge of the design and construction of the four ships.

Under the Technip/DOF joint venture agreement, Technip will manage flexible pipelay and DOF will be responsible for marine operations. Delivery of the ships is scheduled for 2016-2017. Contracts will last eight years from start of operations, and could be renewed for another eight year period.

Vard Holdings will get $1.1 billion from the Technip-DOF JV to build the ships.

Dow Jones Newswires

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