Technip (EPA: TEC) Wins Offshore Contract, Cuts Outlook

Brian Hicks

Written By Brian Hicks

Posted November 1, 2013

Technip (EPA: TEC) Wins Offshore Contract, Cuts Outlook

Technip SA (EPA: TEC), which supplies oilfield equipment and services to energy producers, announced it had won two contracts for the TEN (Tweneboa, Enyera & Ntomme) deepwater drilling project off the coast of Ghana, West Africa. The two contracts are valued at approximately $1.23 billion combined.

In its third quarter report, Technip fell short of analyst predictions and lowered its full-year targets based upon the increased operating margin for subsea projects.

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