PARIS--(BUSINESS WIRE)--Regulatory News:
Technip (Paris:TEC), in association with JGC Corp. and Modec Inc., has been awarded by Petrobras a lump sum contract for the front-end engineering design (FEED) of a proposed floating liquefied natural gas unit (FLNG), as part of a design competition. This FLNG project is being conducted by the joint venture formed between Petrobras, BG, Repsol and Galp Energia for the challenging pre-salt reservoirs of the Santos basin offshore Brazil.
This project would be the first FLNG unit in Brazil and is to be designed for a capacity of approximately 2.7 million tons per annum of LNG. A final investment decision on the project will be made by Petrobras once the FEED study and the analysis of other options are completed.
Scheduled to be completed by the end of 2010, the FEED study will be executed in Technip's operating centres in Paris, France and Rio de Janeiro, Brazil. This award is Technip’s second FLNG contract signed in 2009 (a contract with Shell was signed in July) and confirms the Group’s leadership as a major FLNG concept provider in this very promising market.
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