Technip
French multi-national construction major Technip has announced strong financial results for the first quarter of 2016, earning $3.13bn in revenues.
Since late 2014, Technip has been working on a contract to provide project management consultancy (PMC) services for the engineering, procurement and construction (EPC) works of the Nasr Phase II Full Field Development project, which serves Abu Dhabi Marine Operating Company’s (ADMA-OPCO) strategic objective for the midterm total sustainable production target. Technip PMC is executing the project, which is scheduled to be completed in 2019.
On the downstream side of its business, Technip has been working on a PMC deal alongside Japan’s Unico to upgrade a refinery in Basra, southern Iraq. Last year, Technip also won two contracts for refinery upgrade and expansion in Egypt. The company signed a joint agreement with Midor (Middle East Oil Refinery) for the modernisation and expansion of the 100,000 bbl/d Alexandria refinery in Egypt.
