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Technip Awarded Contract for the P-76 FPSO in Brazil

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By Business Wirevia The Motley Fool

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Technip Awarded Contract for the P-76 FPSO in Brazil

PARIS–(BUSINESS WIRE)– Regulatory News:

Technip (Paris:TEC) (ISIN:FR0000131708), leader of a 50/50 consortium with Techint, was awarded by PNBV(1) a substantial(2) contract for the topside construction and integration, the commissioning and start up assistance of the P-76 floating production storage and offloading (FPSO) unit. Located in the Santos Basin pre-salt area offshore Rio de Janeiro, Brazil, this unit will produce 180,000 barrels of oil and 7 million cubic meters per day of gas.

Technip’s operating center in Rio de Janeiro will perform the project management, engineering and procurement. The 24,000-ton modules fabrication, integration and commissioning will be performed in Techint’s yard, in the South of Brazil. The project is scheduled to be completed by mid-2017.

José Jorge Araújo, Technip’s Senior Vice President Onshore Latin America and Offshore Brazil, declared: “We are delighted to have the opportunity to keep working with Petrobras. This contract strengthens furthermore our presence in the burgeoning Brazilian offshore pre-salt market, where our leading-edge position enables us to meet its high standards and requirements. We fully expect that our partnership with Techint will be a key to the success of the P-76 FPSO. Moreover, this project will contribute to the local economy as it will require approximately 70% of Brazilian local content.“

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(1) PNBV is an integral subsidiary of Petrobras S.A.

(2) For Technip, a “substantial” offshore contract is ranging from €250 to €500 million.

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Technip is a world leader in project management, engineering and construction for the energy industry.

From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 36,500 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges.

Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.

Technip shares are listed on the NYSE Euronext Paris exchange and the USA over-the-counter (OTC) market as an American Depositary Receipt (ADR: TKPPY).

Technip

From: http://www.dailyfinance.com/2013/04/17/technip-awarded-contract-for-the-p-76-fpso-in-braz/

Business, Finance, Occupation & Industry

Should I Buy BG Group for My ISA?

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By G.A. Chester, The Motley Fool

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LONDON — ISA season is upon us again! If you haven’t yet used this year’s £11,280 allowance for a stocks and shares ISA, you only have a short time left before the 5 April deadline.

Remember, you don’t pay any tax on share gains held within an ISA, which means the high capital appreciation of a successful growth stock is sheltered from the reach of HMRC. (For more information about the tax benefits of ISAs, click here.)

Today, I’m going to tell you why I believe blue-chip oil and gas explorer BG Group  (NYSE: BRGGY) is a great choice for your ISA this year.

Overlooked growth
Many investors looking to build a diversified portfolio of U.K. blue chips don’t look beyond the FTSE 100’s top two oil companies, Royal Dutch Shell and BP. These super-majors certainly have their attractions, one of the biggest at the moment being dividend yields of more than 5%.

BG doesn’t distribute as much of its earnings to shareholders as Shell and BP, and offers an income of just 1.5%. However, there are good reasons why BG keeps back much of its cash. Despite being a £40 billion giant, BG remains a growth company and prefers to reinvest the bulk of its earnings in the business to keep driving the growth.

Assets for growth
There’s no doubt that BG owns valuable oil and gas assets with the potential to deliver superior earnings growth. In particular, the company’s interest in the hydrocarbon-rich Santos Basin off Brazil could have investors dancing the Samba for decades to come.

The secret to success will be how well BG manages the commercialization of its largest and most valuable resource, but I believe the company’s track record and the potential of the Santos Basin make for a favorable risk-reward outlook.

Growth at the right price
BG‘s shares have become out of favor with the market since last autumn as a result of the company revising down its production targets for the next couple of years.

In my opinion, though, the short-term horizon of many big institutional investors has created an opportunity for any private investor who is prepared to take a longer view to buy growth at a reasonable price.

At the time of writing, BG‘s shares are trading at 1,175 pence, which equates to a little over 14 times forecast earnings for 2013. But perhaps more significantly, analysts reckon the company could be valued at a discount of as much as 30%-40% to the true value of its assets.

Such a discount means that there’s not only the potential for a significant rerating of the shares for long-term holders, but also the possibility of a premium bid for the company in the shorter term. Either way, the capital gains would be out of reach of the taxman for investors who had the foresight to hold the shares in an ISA.

Investing tax-efficiently and buying quality growth companies at reasonable prices are two of the tools investors like us can employ to build …read more
Source: FULL ARTICLE at DailyFinance