Technip CEO says sub-Saharan Africa ripe with energy promise

|By:, SA News Editor

French engineering company Technip (TNHPF.PK, TKPPY.PK) is developing specialized equipment for tapping complex energy plays in sub-Saharan Africa, as political instability makes it more difficult to work in north Africa and the Middle East where oil is easier to find.

New plays that are technically difficult but with high potential payoffs are cropping up in countries including Uganda, Kenya, and Ethiopia, CEO Thierry Pilenko says, noting Technip is aiming to use its expertise to build production facilities for these complex African reservoirs.