PARIS, December 08, 2021– (COMMERCIAL THREAD) – Technip Energies (PARIS: TE) won a contract from the Abu Dhabi National Oil Company (ADNOC) to update the Front-End Engineering Design (FEED) of the Ghasha megaproject, in particular by accelerating the integration of carbon capture into development. This project is part of the Ghasha concession in which ADNOC’s strategic partners are Eni (25%), Wintershall Dea (10%), OMV (5%) and LUKOIL (5%).
The project aims to develop the untapped oil and gas reserves of the Ghasha concession fields, which constitute the largest offshore sour gas development in the world. The concession area is expected to produce over 1.5bscfd(1) natural gas, as well as condensate and petroleum. In addition, the CO2 capture, dehydration and export will be an integral part of the project facilities, thus reinforcing ADNOC’s decarbonation and sustainability commitments.
The concession’s production start-up is expected in 2025, reaching full production by the end of the decade. The overall objective of the updated FEED will be to further optimize the project costs for this development as well as to accelerate the integration of carbon capture.
Marco Villa, Deputy CEO of Technip Energies, declared: âWe are very proud to have received this FEED, which will be one of the largest ultra-sour gas projects on which Technip Energies has worked. This award is recognition of the solid skills in gas processing as well as the relationship and trust that ADNOC has with Technip Energies for this strategic project. As part of our energy transition, we will contribute to a robust design of carbon capture and transport for enhanced oil recovery, a critical component of this project. Over the past four decades, we have been committed to ADNOC through value-added services and continued our commitment to expand local execution capacities and improve value in the country. “
(1) Billions of standard cubic feet per day.
About Technip Energies
Technip Energies is a leading Engineering and Technology company for the energy transition, with leading positions in Liquefied Natural Gas (LNG), hydrogen and ethylene, as well as growing positions in the energy markets. ‘blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by an extensive offering of technologies, products and services.
Present in 34 countries, our 15,000 employees are fully committed to bringing our customers’ innovative projects to life, pushing back borders to accelerate the energy transition for a better future.
Technip Energies is listed on Euronext Paris with American certificates of deposit (âADRâ) traded over-the-counter in the United States.
For more information: www.technipenergies.com.
Important information for investors and security holders
This press release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events and to income, earnings, cash flows or other aspects of Technip Energies’ operations or results of operations. Forward-looking statements are often identified by the words âbelieveâ, âexpectâ, âanticipateâ, âplanâ, âintendâ, âanticipateâ, âshouldâ, âshouldâ, âcouldâ. “,” Could “,” estimate “,” prospect “and similar expressions, including their negative. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions regarding future developments and business conditions and their potential effect on Technip Energies. Although Technip Energies believes that these forward-looking statements are reasonable as they are made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates. All of Technip Energies ‘forward-looking statements involve risks and uncertainties (some of which are significant or beyond the control of Technip Energies) and assumptions that could lead to actual results materially different from Technip Energies’ historical experience and expectations or projections. current Technip Energies. . If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove to be incorrect, actual results could differ materially from those stated in forward-looking statements. For more information on known significant factors that could cause actual results to differ from projected results, please see Technip Energies risk factors set out in documents filed by Technip Energies with the State Securities and Exchange Commission. United, which include amendment no. 4 to the Technip Energies registration declaration on form F-1 filed on February 11, 2021.
Forward-looking statements involve inherent risks and uncertainties and speak only as of the date on which they are made. Technip Energies assumes no obligation to update and will not necessarily update forward-looking statements in light of new information or future events, except to the extent required by applicable law.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211207006234/en/
Vice President Investor Relations
+44 20 7585 5051
Press Relations & Digital Communication Director
+33 (1) 85 67 40 95
Head of press relations and social networks
+33 1 47 78 22 89