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Norway: Technip to Install Subsea Compression System on Asgard

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Technip has been awarded by Statoil a contract, valued above €150million (198.5 million U.S. dollars), for the major Åsgard Subsea Compression project located in the Norwegian Sea, 40 kilometers East of the Åsgard field, at a water depth of 340 meters. The contract covers the installation of the subsea compression system and its connection to the existing subsea infrastructure and the Åsgard platform.

The contract includes fabrication, installation and tie-in of pipeline spools including protection covers and installation of power cables and umbilicals.

It also comprises options for the following works:  engineering, fabrication and supply of a special handling system (SHS) for the installation and retrieval of the subsea compression system modules, initial installation of the subsea compression system modules.

Technip’s operating centers in Oslo and Stavanger, Norway will execute the contract. Offshore construction will take place in 2013 and 2014. The contract also includes options for the IMR(3) stand-by vessel until 2018.

The Åsgard field is situated in the Norwegian Sea, about 200 kilometres off mid-Norway and 50 kilometres south of Heidrun. Åsgard is one of the largest developments on the Norwegian continental shelf, embracing a total of 52 wells drilled through 16 seabed templates.

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Mexico: Cal Dive to Install Subsea Pipeline in Abkatun Offshore Field

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Cal Dive International, Inc. announced today that it has been awarded a contract by Pemex Exploración y Producción for the installation of an 8 inch subsea pipeline located in the Abkatun Field in 47 meters of water. The contract will generate total revenue of approximately $27 million and will utilize two of the Company’s key assets. The offshore construction is expected to commence in April 2012.

Quinn Hébert, President and Chief Executive Officer of Cal Dive, stated, “We are pleased to announce our first contract win in Mexico for 2012. We expect 2012 to be a very active year in Mexico as the capital spending by Pemex is expected to be at a higher level than in recent years.”

Cal Dive International, Inc., headquartered in Houston, Texas, is a marine contractor that provides an integrated offshore construction solution to its customers, including manned diving, pipelay and pipe burial, platform installation and platform salvage services to the offshore oil and natural gas industry on the Gulf of Mexico OCS, Northeastern U.S., Latin America, Southeast Asia, China, Australia, the Middle East, India and the Mediterranean, with a fleet of 29 vessels, including 19 surface and saturation diving support vessels and 10 construction barges.

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