Technip Energies shares rose on Tuesday morning on the Paris Bourse following the announcement of the signature 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, Technip Energies' local joint venture created in 2019 to serve the Kazakh market.

Following this announcement, Technip Energies shares rose by 1.8% on Tuesday morning on the Paris Bourse, topping the SBF 120 index.

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