ProSep has been awarded a US $2.32 million contract to support a new commercial initiative by PDSVA, Venezuela's state-owned energy company.
ProSep will supply separation equipment that will treat approximately 20 million standard cubic feet per day of gas at PDVSA's expansion project in Morichal, Venezuela. By efficiently treating and removing water, sulfur and carbon elements, ProSep's separation equipment will enable PDVSA to sell natural gas that would otherwise be burned or released during its oil production activities.
"This is an important contract win on many levels," said Jacques L. Drouin, President and CEO of ProSep Inc.
"Not only have we entered into a significant arrangement with one of the largest energy companies, we continue to demonstrate how our separation solutions deliver compelling business advantages to upstream oil and gas companies around the world."
ProSep was awarded the contract by its local partner in South America, Skanska LatinoAmerica (LA), a major engineering and procurement contractor serving the oil and gas sector. Skanska LA, a unit of the Sweden-based Skanska Group, has 12,000 employees and more than 110 projects under construction.
ProSep expects to deliver its gas membrane separation equipment in June 2009. With this contract win, ProSep's current sales backlog totals approximately C$39.5 million.
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