(CercleFinance.com) – Technip Energies rose Tuesday morning on the Paris Stock Exchange following the announcement of the signing of a long-term services agreement for the development of an oil and gas field in Kazakhstan.
The five-year framework contract with the Kazakh group Karachaganak Petroleum Operating (KPO) covers a full range of services, from consulting to design and detailed engineering.
The project aims to optimize and expand the existing facilities and infrastructure of this complex located in the northwest of the country, today one of the largest oil and gas condensate fields in the world.
The contract will be executed by TKJV, the local joint venture of Technip Energies established in 2019 to serve the Kazakh market.
Following this announcement, Technip Energies shares increased by 1.8% on Tuesday morning on the Paris Stock Exchange, thus appearing at the top of the ranking of the strongest increases in the SBF 120 index.
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