Bloomberg News

Technip Says It Didn’t Design Leaking Gas Platform in North Sea

March 27, 2012

Technip SA (TEC), the European oil- services provider whose shares slumped following a gas leak in the U.K. North Sea, said it didn’t design the affected platform.

Technip designed one of three platforms at the Elgin and Franklin fields operated by Total SA (FP), and not the one where gas is leaking, said Floriane Lassalle-Massip, a spokeswoman.

The shares closed down 3.2 percent in Paris trading, the biggest one-day decline in three weeks, amid news that Total was battling to contain a leak at the offshore fields. Total lost 6 percent on concern the seepage could take months to contain.

Technip designed the production/utilities/quarters, or PUQ, platform at Elgin, rather than the field’s wellhead platform where gas is escaping, Lassalle-Massip said by telephone.

The Elgin facilities were evacuated after a blowout on March 25 during an operation to abandon a well. Hydrocarbons produced at the Elgin and Franklin fields, about 140 miles (225 kilometers) east of Aberdeen in Scotland, are collected and processed on the PUQ before being exported by pipeline.

To contact the reporter on this story: Tara Patel in Paris at tpatel2@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net


Best LBO Ever
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus