Technip was awarded a $400 million contract by Kuwait Oil Company (KOC) for project management and engineering of new oil and gas facilities, it said Wednesday
Technip will provide services in Kuwait for the next five years with an option for one more year.
The contract is the biggest project management deal ever for Paris-based Technip.
It is best known for its offfshore construction fleet that serves the oil and gas sector. But it said Wednesday it has been focusing more on development of its project management business.
It will provide KOC with project management, feasibility studies, front-end design, project controls, planning, engineering, procurement, construction management and training of KOC project staff.
The services will mainly be performed by Technip’s teams in an operating center created specifically for the new contract and housed at the offices based at KOC’s headquarters in Ahmadi, Kuwait.
Technip’s operating center in Milton Keynes, UK will execute the feasibility studies and front-end engineering and design.
Riccardo Moizo, Senior Vice President of Technip PMC, said: “We are proud to have been awarded this contract by KOC. This award establishes Technip as one of the top-tier Project Management Consultancy companies worldwide. It has been fueled notably by skills and assets gained from the acquisition of Stone & Webster process technologies in 2012.”