Technip: LOI for the Lucius Project in GOM

Anadarko Petroleum issued a Letter of Intent to Technip for the engineering, construction and transport of a 23,000 ton Truss Spar hull for their Lucius field development. This field is located in approximately 7,100 ft.(2,165 m) of water, in the US Gulf of Mexico. This Letter of Intent allows Technip to begin preliminary work on the project including purchase of long lead items for the hull in advance of the planned sanction date of December 2011.
The Lucius Spar will have a capacity of more than 80,000 barrels of oil and 450 million cubic feet of natural gas per day.
Technip’s operating center in Houston, Texas, will provide the overall project management. The detailed hull design and fabrication will be carried out by Technip’s yard in Pori (Finland), where most of the previous Technip Spar projects have been manufactured.
This Spar will be the fifteenth delivered by Technip (out of eighteen worldwide) and thus demonstrates both the leadership of the Group for this kind of floating platform and its  ability to tackle ultra deep water developments. It also confirms the Pori yard track record expertise and great capabilities to deliver state-of-the-art platforms. First oil is scheduled for 2014. The Lucius Spar will be jointly owned by Anadarko (35%), Plains E&P (23.3%), ExxonMobil (15%), Apache (11.7%), Petrobras (9.6%) and Eni (5.4%).