Business, Tourism, Culture and Rural Development
October 7, 2015

The following is being distributed at the request of the Research & Development Corporation:

Strengthening the Economy Through Investments in Research and Development

RDC Supports Riser Design Research and Development with Investment in High Performance Computing Centre

The Research & Development Corporation (RDC) is investing $592,535 in Technip Canada's High Performance Computing Centre to strengthen the province's capacity in riser design research and development (R&D). The Honourable Darin King, Minister Responsible for the Research and Development Corporation, made the announcement this morning during Technip's Technology Day in St. John's. The total project cost is $2,379,977.

"Research and development in the area of subsea technologies is critical to the future of offshore oil and gas sector. Through this investment, RDC is helping Technip Canada expand its technical capabilities in the province and establish the next generation of riser design solutions to meet the needs of its global clientele."
- The Honourable Darin King, Minister of Business, Tourism, Culture and Rural Development

A riser is a pipe or assembly of pipes used in the offshore oil and gas industry to transfer fluids between the seabed and surface facilities. Through this project, Technip Canada will expand its local capabilities in providing riser design services to oil and gas industry clients around the world.

The new High-Performance Computing Centre will allow Technip to process complex riser configurations with minimum processing time. The development of this technical expertise has the potential to enhance R&D capacity and open new opportunities in the field of riser design R&D.

"This investment will enable Technip Canada to leverage its experience gained in the local offshore industry to become world leaders in the area of Riser Dynamic Analysis. The High Performance Computing Centre will ensure competitiveness, and will enable exporting of engineering expertise to Technip's international client base."
- Jason Muise, Technip Canada Managing Director

RDC is a provincial Crown corporation responsible for improving Newfoundland and Labrador's research and development performance. RDC works with research and development stakeholders including business, academia and government agencies and departments to make strategic investments in highly qualified people, R&D infrastructure and innovative research. Since 2009, the RDC has invested $111 million in more than 600 individual projects and $345 million has been leveraged from other investment partners. Additional information about RDC can be found at: www.rdc.org .

QUICK FACTS

• RDC is strengthening riser design R&D with an investment of $592,535 in Technip Canada's High-Performance Computing Centre. The total project costs are $2,379,977.
• The new High-Performance Computing Centre will enable Technip to provide complex riser design analysis with minimum turnaround times.
• The centre will be based in St. John's and will service Technip's global clientele.

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Media contacts:

Tansy Mundon Director of Communications Department of Business, Tourism, Culture and Rural Development 709-729-4570, 693-1865 tansymundon@gov.nl.ca	Ronalda Walsh Director, Marketing & Communications Research & Development Corporation 709-758-1021, 691-1009 ronaldawalsh@rdc.org
Trina Oake Payroll Coordinator Technip Canada Limited 709-724-3698 TOake@technip.com

2015 10 07                              11:50 a.m.