Member Article

Billions' worth of subsea work could benefit Technip’s Walker base

French engineering firm Technip, who operate Walker and Gateshead bases, grew its order intake by €12 billion in the final quarter of last year.

The multinational suppliers to the oil and gas industry said order backlogs had increased to €16.6 billion overall, of which €8.6 billion was accounted for by Subsea work.

DUCO Ltd’s Walker manufacturing base is part of Technip’s subsea operations, specialising in umbilical systems

The firm said it was looking to grow subsea revenues between €4.35 and €4.75 billion, and onshore revenues by up to €5.7 billion.

Chairman and CEO said: “Technip is well placed to benefit from its presence in regions such as Brazil, Africa and North America, as well as technology areas such as Floating Liquefied Natural Gas, where client investment is rising.

“Looking forward, our clients’ capex continues to increase globally, even if at a more moderate rate than in the past decade.

“Some themes remain clear in our industry - amongst them the fast depletion of older reservoirs, the abundance of new finds potentially to replace the, a long-term trend towards gas production, the importance of shale oil and gas to the US onshore market.”

This was posted in Bdaily's Members' News section by Tom Keighley .