Under the terms of the two new frame agreements, the group has been awarded two call-off contracts for the development of the Plutao, Saturno, Venus and Marte (PSVM) fields, located offshore Angola in Block 31 at water depths of 1,800m to 2,100m. Angoflex is jointly owned by Technip and Angolan state-owned oil company Sonangol.

The first agreement, valued at approximately E80 million, covers 40 flexible jumpers. Project management and engineering will be carried out by Technip’s operating center in Paris, France. The flexible jumpers will be manufactured by Technip’s flexible pipe plant in Le Trait, France. Delivery is scheduled during the first half of 2010.

The second contract, awarded to Angoflex and Duco, Technip’s wholly owned subsidiary dedicated to the design and manufacture of umbilicals, is valued at close to E80 million and includes 34 umbilicals with a total length of 43km. Project management and engineering will be carried out by Duco in Newcastle, UK.

The umbilicals will be manufactured at the Angoflex plant in Lobito, Angola, with delivery between the fourth quarter of 2010 and the first quarter of 2011. These new contracts bring the total value of the call-off contracts signed with BP for its deepwater development program in Angola to approximately E460 million.