Technip and Subsea 7 Confirm Their Permanent JV in Asia Pacific

Following the signature of a Memorandum of Understanding on 12 September 13 2005, Technip and Subsea 7 signed the final agreement on 12 May 2006 for the formation of a jointly operated company for subsea offshore activities in the Asia Pacific region (excluding India and the Middle East).

The jointly operated company, Technip Subsea 7 Asia Pacific Pty Ltd, will commence business on 1 July 2006.