ProSep Inc. has signed a contract with Powertium Sdn Bhd and Malaysia Marine and Heavy Engineering Sdn Bhd, a wholly-owned subsidiary of Petronas, valued at $3.3 million (CDN). ProSep will provide a glycol regeneration package to be used by Petronas, a Fortune 500 oil and gas company wholly-owned by the Malaysian government, in its Gumusut-Kapap deepwater project.
"Today’s announcement represents a significant milestone for the Company," said Jacques L. Drouin, President and CEO of ProSep Inc. "It establishes us as an emerging player in the South East Asia region and gives further evidence of the international reputation we are building as providers of innovative separation technology for the oil and gas industry."
The Company expects to deliver the regeneration package in the second quarter of 2009. With this contract, ProSep’s current sales backlog totals approximately $48 million (CDN).
Glycol is used in the production of natural gas, facilitating the separation of water from gas. Glycol regeneration is the process used to separate the collected water so that glycol can be reused.