THE DEEP OFFSHORE MARKET

Ivan REPLUMAZCEO Offshore Branch

INVESTOR DAY, PARIS, FRANCE - October 22, 2004

29Investor Day – 22 October 2004

I. INTRODUCTION

II. DEEP WATER DEVELOPMENT CONCEPTS

IV. MAIN OPERATORS & CAPEX

III. RESERVES AND PRODUCTION

V. TECHNIP POSITIONING

30Investor Day – 22 October 2004

INTRODUCTION

Definitions:

! Deep water: depth between 500m and 1,500m

! Ultra deep water: depth exceeding 1,500m

History:

! First deep water development in 1989 in the US Gulf of Mexico

! 96 deep water and ultra deep water fields on stream today in US

! Gulf of Mexico, Brazil and Africa mainly

! These developments have been made possible thanks to:

" the discovery of new reserves located in giant offshore fields

" technological innovations in exploration, drilling and production

31Investor Day – 22 October 2004

DeepWater

ShallowWater

INTRODUCTION: DEEP WATER RECORD-BREAKING HISTORY

2000Roncador

Brazil

1 853 m

1997Marlim Sul

Brazil

1 709 m

UltraDeepWater

2003NakikaGoM

2315 m

1989JollietGoM

540 m

1991MarlimBrazil

752 m

312 m

1978Cognac

GoM

1994Marlim 4

Brazil

1,027 m

1997MensaGoM

1,650 m

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II. DEEP WATER DEVELOPMENT CONCEPTS

1. WET TREE

2. DRY TREE

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DEEP WATER DEVELOPMENT CONCEPTS: WET TREE

“Wet tree” concept relates to a development scheme where the production trees are located below the sea surface, generally on the seabed

Semi-Submersible

Floating ProductionStorage & Offloading (FPSO)

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SPAR

DEEP WATER DEVELOPMENT CONCEPTS: DRY TREE

“Dry tree” concept relates to a development scheme where the production trees are located above the sea surface

Extended DraftPlatform (EDP)

Tension-LegPlatform (TLP)

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II. RESERVES & PRODUCTION

1. DEEP WATER RESERVES: GEOGRAPHICAL SPLIT

2. DEEP OFFSHORE PRODUCTION:OIL & GAS

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Source: Infield

Billions of barrels of oil equivalent (bboe)

DEEP WATER RESERVES: GEOGRAPHICAL SPLIT

75% of total reserves and 93% of oil reserveslocated in Africa, Gulf of Mexico and Brazil

0

5

10

15

20

25

30

35

Africa Gulf ofMexico

Brazil Australia South EastAsia

North Sea Others

Gas38%Oil &

Liquids62%

Total: 90 bboe as of 1/1/04

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DEEP OFFSHORE PRODUCTION: OIL & GAS

Source: IFP

2004: 0.9 mboe /d or 52 bm3 /y2010: 3.1 mboe /d or 180 bm3 /y

0

40

80

120

160

200

1990 1995 2000 2005 2010

North Sea

Gas Production

Billionsof m3 p/y

0

1

2

3

4

5

6

7

1990 1995 2000 2005 2010

Gulf of Mexico

South East Asia

Oil Production

Brazil

Africa

OthersMillions of barrels p/d

2004: 3.0 mb /d2010: 6.5 mb /d

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III. MAIN OPERATORS & CAPEX

1. MAIN OPERATORS

2. DEEP WATER CAPEX:GEOGRAPHICAL SPLIT

3. DEEP WATER CAPEX BY SEGMENT

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DEEP OFFSHORE: MAIN OPERATORS

Source: Infield

Billions of barrels of oil equivalent (bboe)

0 2 4 6 8 10 12 14 16

Others

BHP Billiton

Murphy

Reliance

Kerr-McGee

British Gas/Edison/EGPC

Statoil

Norsk Hydro

Unocal

ChevronTexaco

BP

Total

Shell

ExxonMobil

Petrobras

Liquid Reserves

Gas Reserves

Liquid reserves: 56 bboeGas reserves: 34 bboeTotal reserves: 90 bboe

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DEEP WATER CAPEX: GEOGRAPHICAL SPLIT

Over the 1999-2008 period, 90% of capital expenditureslocated in Africa, North America and Latin America

$ in millions

Africa

NorthAmerica

LatinAmerica

Asia &Oceania

Europe

India

Source: Infield

0

2 000

4 000

6 000

8 000

10 000

12 000

14 000

16 000

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

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DEEP WATER CAPEX BY SEGMENT

0

0.5

1

1.5

2

2.5

3

3.5

4

4.5

SURF Facilities Subsea Hardware

$57 bn deep water capital expenditures forecast over the 2004/2008 period:

! $21 bn on facilities

! $19 bn on SURF (subsea, umbilicals,risers and flowlines)

! $17 bn on subseahardware

Average Yearly Deep Water Capex

2000 - 2003 2004 - 2008

Source: Infield

$ in billions

+72% +68% +112%

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IV. TECHNIP POSITIONING

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TECHNIP POSITIONING IN DEEP OFFSHORE

Technip is present on:! SURF (Subsea, Umbilicals, Risers and Flowlines)! Floating facilities (FPSO, semi-submersibles, SPAR…)

Leadership in SURFmarket! 52% share in 2003! 35% share over

the 2000-2003 period

10% share on thefloating facilities market! Dry tree concepts:

" 10 SPAR platformsdelivered

" 1 currently underfabrication

! FPSO: Girassol (sub contract), Dalia in Africa! Semi-submersibles: P51 and P52 in Brazil

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TECHNIP POSITIONING: MAIN REFERENCES IN DEEP OFFSHORE

1,255PetrobrasSEMI-SUB FacilityP52Brazil

1,255PetrobrasSEMI-SUB FacilityP51Brazil

1,850PetrobrasSURFRoncadorBrazil

USA

USA

USA

USA

USA

USA

USA

Ivory Coast

Egypt

Angola

Angola

Angola

Angola

Angola

Country

1,520Kerr McGeeSPAR PlatformConstitution

1,620Kerr McGeeSPAR PlatformRed Hawk

1,370British PetroleumSPAR PlatformHolstein

2,040British PetroleumSPAR PlatformMad Dog

2,315ShellSURFNakika

1,050Williams Energy serv.SURFBanjo Seahawk

1,050Williams Energy serv.SPAR PlatformBanjo Seahawk

1,300Canadian Natural Res.SURFBaobab

500British GasSURFSimian Sapphire

1,350TotalSURFDalia

1,350TotalFPSO FacilityDalia

1,500British PetroleumSURFGreater Plutonio

500Chevron TexacoSURFKuito

1,450TotalFPSO Facility (Eng.)

Girassol

Water depth (m)ClientSegmentProject

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For more information, please contact:

INVESTOR RELATIONS

G. Christopher WeltonTel. +33 (0) 1 47 48 66 74e-mail: cwelton@technip.com

David-Alexandre GuezTel. +33 (0) 1 47 78 27 85e-mail: daguez@technip.com

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TRADING TECHNIP

ISINFR0000131708