Technip Acquires Ingenium AS (Norway)

Technip announces the acquisition of Ingenium AS, a highly-experienced offshore engineering and services contractor located in Oslo, Norway.

Ingenium AS designs and develops mechanical and electro-hydraulic tools and equipment, for the offshore oil and gas industry, and provides engineering services for marine operations, such as the installation of pipes and cables. Comprising over 20 highly-skilled engineers in the subsea business, the umbilical lay spread on the North Sea Giant, for the Goliat project, in 2012 is one of their recent achievements.

Odd Strømsnes, Managing Director of Technip in Norway, declared: “Ingenium brings a team with solid experience and engineering capabilities that reinforces Technip’s presence in one of the Group’s key markets. Technip has a long history of working on projects with Ingenium, we are thrilled that they will be joining the Group and complementing our competencies to accompany us in taking it further.”

Technip is a world leader in project management, engineering and construction for the energy industry.

From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, Technip’s 36,500 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges.

Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.

Technip shares are listed on the NYSE Euronext Paris exchange and the USA over-the-counter (OTC) market as an American Depositary Receipt (ADR: TKPPY).

[mappress]

Press Release, March 13, 2013; Image: Ingenium