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2007 Annual Report Tour Technip 6-8 Allée De L’Arche 2007 Annual Report 92973 Paris La Défense Cedex - France Phone: +33 (0) 1 47 78 21 21 Fax: +33 (0) 1 47 78 33 40

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2007 Annual Report Tour Technip 6-8 Allée De L’Arche 2007 Annual Report 92973 Paris La Défense Cedex - France Phone: +33 (0) 1 47 78 21 21 Fax: +33 (0) 1 47 78 33 40 Headquarters 2007 Annual Report Tour Technip 6-8 allée de l’Arche 2007 Annual Report 92973 Paris La Défense Cedex - France Phone: +33 (0) 1 47 78 21 21 Fax: +33 (0) 1 47 78 33 40 A limited company capitalized at 81,866,587.20 euros www.technip.com Contents 2007 Annual Report 1 CONTENTS Foreword 03 I – MANAGEMENT REPORT OF THE BOARD OF DIRECTORS 03 1. 2007 financial year activities and highlights 03 a. Overview of Technip’s business 03 b. Technip’s business in 2007 04 c. Business segments 11 d. Investments 14 e. Change in project strategy 15 f. Technip’s business environment 16 g. Human resources 17 2. Business results 18 a. Group consolidated results 18 b. Company’s financial results 40 3. Corporate governance 41 a. Composition of the Board of Directors at February 20, 2008, terms and responsibilities of directors 41 b. Role and operation of the Board of Directors and agenda for Board of Directors’ meetings in 2007 47 c. Composition, role and operating policies of specialized committees 49 d. Compensation and other benefits granted to corporate officers 53 4. Outlook and risk management 59 a. Post year-end events 59 b. Outlook 61 c. Risk factors and insurance 62 d. Exceptional events and litigation 71 5. Technip and its shareholders 73 a. Information relating to the share capital 73 b. Company shareholding structure 74 c. Dividends paid over the past three years 76 d. Share repurchase programs 77 6. Sustainable development 79 a. Employee-related information 79 b. Environmental information 80 2 2007 Annual Report Contents II – APPENDICES TO THE REPORT PREPARED BY THE BOARD 81 OF DIRECTORS 1. Report by the Chairman of the Board of Directors on internal control 81 2. Report by the Statutory Auditors on internal control 90 3. Shareholders’ Meeting of April 25, 2008: agenda and proposed resolutions 91 4. Summary of authorizations currently in effect approved by the Extraordinary 102 Shareholders’ Meeting III – CONSOLIDATED FINANCIAL STATEMENTS 105 IV – STATUTORY ACCOUNTS 181 V – AUDITORS' REPORTS 202 VI – OTHER GENERAL INFORMATION 207 1. Persons responsible for the Reference Document 207 and for auditing the financial statements a. Statement by the person responsible for the Reference Document 207 b. Person responsible for auditing the financial Statements 207 2. Documents available to the public 209 3. Other legal information 209 a. General information relating to the Company 209 b. Other information relating to the share capital and shareholding structure 209 4. Other corporate governance information 213 a. Extracts from the articles of association relating to corporate governance 213 b. Other information relating to members of management and supervisory bodies 214 c. Related party transactions 215 5. Other information on the Group’s business and structure 219 a. Organization chart 219 b. Market environment 219 c. Procurement 221 d. Cycles and seasonality 222 e. Property, plant and equipment 222 f. Major contracts 225 g. Technology 225 h. History of the Group 226 i. Third-party information, expert opinions and ownership statements 229 6. Contracts and calendar for financial information releases 229 a. Person responsible for financial information 229 b. Calendar for financial information releases 229 VII – RECONCILIATION TABLE 231 I - Management Report of the Board of Directors 2007 Annual Report 3 MANAGEMENT I REPORT OF THE BOARD OF DIRECTORS Foreword 1. 2007 financial year activities and highlights When used in this Reference Document, the terms "Technip" and "Group" refer collectively to Technip S.A. and to all of its directly and a. Overview of Technip’s business indirectly consolidated subsidiaries located in France and outside France. With consolidated revenues of approximately €7.89 billion in 2007, Technip ranked among the world’s top operators in gas and oil indus- In this Reference Document, the terms "Company" and "issuer" try engineering, technologies and projects. Technip is also one of refer exclusively to Technip S.A., the Group's parent company. the most integrated groups in this sector as a result of its numer- ous industrial assets. In accordance with Article 28 of European Commission ruling no. 809/2004 of April 29, 2004, the following information is incorpo- In 2007, 88.7% of Technip’s consolidated revenues were generated rated by reference in this document: in non-European Union markets. Technip’s main locations outside France are in Italy, Malaysia, Germany, the United Kingdom, Norway, • the 2006 consolidated financial statements and company finan- Finland, the United States, the Netherlands, Brazil,Abu Dhabi, China, cial statements, as well as the Statutory Auditors’ reports for the India and Australia. financial year ended December 31, 2006, found on pages 99 to 199 of the 2006 Reference Document filed with the French Its production facilities (flexible pipes, umbilicals), manufacturing Financial Markets Authority (hereinafter, the "AMF") dated April yards and spoolbases are located in France, Brazil, the United 6, 2007, registered under no. D.07-0297, Kingdom, Norway, the United States, Finland and Angola. At February • the 2005 consolidated financial statements and company finan- 29, 2008, Technip employed more than 23,000 people in nearly cial statement, as well as the Statutory Auditors’ reports for the 50 countries. As of this date, it boasted a fleet of 16 vessels spe- financial year ended December 31, 2005, found on pages 82 to cialized in subsea pipelay, subsea construction, diving support and 191 of the 2005 Reference Document dated April 18, 2006 filed exploration. with the AMF under no. D.06-0278. Technip designs and builds high-technology industrial installations: The sections of these documents that are not included either are subsea equipment and platforms and onshore mega-complexes for not relevant to investors or are covered in another part of the the oil, gas and petrochemicals sectors. Reference Document. 4 2007 Annual Report I - Management Report of the Board of Directors Technip works on all phases of a project, from the preliminary study United Arab Emirates phases to unit delivery, including equipment procurement and flex- Technip won a lump-sum turnkey contract worth approximately ible pipe manufacture and construction. U.S.$610 million with Abu Dhabi Gas Liquefaction Limited (“ADGAS”) for gas compression installations and related equip- Over its 50 years of operations, Technip has designed and super- ment on the Da s Island, in the United Arab Emirates. vised the construction of more than 2,000 facilities in over 115 countries. Its roster of clients includes international oil companies FEBRUARY 2007 such as Exxon Mobil, Total, Shell, Chevron Texaco, BP and a large number of national companies like Petrobras, Saudi Aramco, Qatar Group Petroleum, Petronas,ADNOC and PDVSA. Its five main clients rep- On February 2, 2007, Technip sold 100% of the share capital of resented 40.4% of consolidated revenues in 2007. Technip, whose Perry Slingsby Systems Ltd. and Perry Slingsby Systems Inc., two shares have been listed on the Paris stock exchange (Euronext Paris) companies that manufacture ROVs, to Triton Group Holdings, a since 1994, has set itself the twofold objective of providing inno- subsidiary of private hedge fund, SCF Partners. These companies, vative solutions in the oil and gas industry and creating value for its located respectively in Kirkbymoorside (United Kingdom) and shareholders. Jupiter, Florida (United States), employ a workforce of approxi- mately 300 staff, and, in 2006, had total revenues of approxi- mately €70 million, mainly with non-Technip customers. After b. Technip’s business in 2007 amortization of goodwill, this U.S.$82 million disposal generat- ed approximately U.S.$10 million, a pre-tax capital gain of The information presented below is taken from Technip’s press approximately U.S.$23 million. releases. These press releases are available in their entirety on the Company’s website (www.technip.com). The following is a sum- New Zealand mary to be read in relation to the tables of numbers as may be The Technip-Subsea 7 Joint Venture won a contract with New included in these press releases. Zealand Overseas Petroleum for the development of the Tui field located approximately 50 kilometers off the coast of Taranaki JANUARY 2007 (New Zealand), 125 meters below sea level. Poland Thailand Technip was awarded a contract by PKN Orlen for the construction Technip won a contract with the exploration-production sub- of a hydrogen production unit in PKN Orlen’s refinery in Plock, Poland. sidiary of Petroleum Authority of Thailand for the basic and It is a lump-sum management contract. detailed engineering of four tree platforms, their subsea pipes and connections. The platforms will be installed in the Arthit Group gas field at 80 meters below sea level in the Gulf of Thailand, At its meeting on January 15, 2007,Technip's Board of Directors, and will be connected to the existing tree platforms. upon the Nominations and Remunerations Committee’s propos- al, appointed Thierry Pilenko to succeed Daniel Valot as Chairman and Chief Executive Officer following the April 27, 2007 Shareholders’ Meeting in which he was appointed to Technip’s Board of Directors. Malaysia Technip successfully completed the first offshore installation of topsides using the "catamaran" floatover technique for the Kikeh SPAR. This platform, which was built for Murphy Sabah Oil and its partner, Petronas Carigali, will be used to develop the Kikeh deep sea field off the coast of Malaysia. I - Management Report of the Board of Directors 2007 Annual Report 5 France dividend and an exceptional dividend on May 3, 2007; the appoint- Technip won a contract with Silicium de Provence (Silpro) for pre- ment of Ms. Germaine Gibara, Mr. Pascal Colombani, Mr. John liminary studies on a solar polycrystalline silicium production plant. O’Leary and Mr.Thierry Pilenko to the Board of Directors and the This plant will be located in Saint-Auban (Alpes-de-Haute- renewal of the terms of Mr.
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