DGAP-News: MAN OIL GROUP COMMENCES OIL-WASTE TREATMENT IN SIBERIA
31.07.2013 – 17:31
DGAP-News: MAN OIL GROUP AG / Key word(s): Miscellaneous MAN OIL GROUP COMMENCES OIL-WASTE TREATMENT IN SIBERIA 31.07.2013 / 17:30 --------------------------------------------------------------------- MAN OIL GROUP COMMENCES OIL-WASTE TREATMENT IN SIBERIA - Man Oil Group has been recognized as the winner of the tendering procedure for treatment and recovery of oil waste in the Siberian region of Russia. - For the first time in Siberia the major worldwide oil company Rosneft will be able to return the recovered hydrocarbon back to the production cycle Zug, Swiss, 31 July 2013, Man Oil Group AG has been successfully evaluated against selection criteria and recognized as the best company in the tendering procedure held by Rosneft whose technology guarantees the customer the best results and value for money. The processing will be executed with Man Oil Group's own machinery. The Customer has requested that the machinery complex of STORM-15 be mounted as soon as possible at the site to begin work in September. By commissioning this project, Rosneft intends not only to process the waste effectively, but also to make ecological improvements in the area and avoid harmful emissions for the local population. Under an environmental restoration program for the period 2009-2014, Rosneft as a public company, will apply the latest technologies and up-to-date production methods and equipment to ensure environmental safety. GENADI MAN, MAN OIL GROUP PRESIDENT AND CEO: «In our work we share the principles of a sustainable environmental development and economically efficient use of wastes. The environmentally friendly agent NHS provides the reliable basis for the technological process and prevents any negative impact on the environment. This project is only a starting point for Man Oil Group's relations with Rosneft. For the first time in Siberia Rosneft will be able to return the recovered hydrocarbon back to the production cycle». ALEX MOJON, MAN OIL GROUP CHIEF OF SCIENTIFIC DIVISION: «MOG technologies are based on a scientific approach, a focus on customer needs, and maximum environmental safety provided by scrupulous analysis and technological know-how». The parties have agreed not to disclose the financial parameters of the contract. The project income will impact on 2013 revenue. Currently the parties are negotiating the terms and conditions for the forthcoming projects. Man Oil Group in its turn has scheduled to produce a further series of STORM-15 machines for the Siberian projects in 2014. ABOUT MAN OIL GROUP AG STORM-15 provides environmentally-friendly treatment of oil sludge with the record capacity 15 m3/h and recovers up to 95% of hydrocarbon present. MOG's technology and approach are unique and officially approved (an intellectual property of MOG AG) - STORM-15: patent application № EP 12169851.8 at European Patent Agency - Innovative Natural Hydrocarbon Solution (NHS): patent application № EP 11162199.1 at European Patent Agency At the heart of the technology there is a scientific and tailored approach, which allows Man Oil Group to offer oil companies a complex and highly effective solution. Man Oil Group's demonstrated unique results of oil-waste treatment technology has received a high praise from major market players. The successful implementation of the project in Siberia will create a strong platform for the company in the energy market. MOG strives towards a leadership position in the global market for treatment of oil-contaminated soil and hydrocarbon recovery and providing our customers with the highest-quality services. Additional information is available at www.manoilgroup.com ABOUT ROSNEFT Rosneft is the leader of the Russian oil industry and one of the world's largest publicly traded oil and gas corporations. In its efforts to minimize impact on the environment, Rosneft focuses particularly on prevention. The Company is implementing an environmental program for the period 2009-2014, involving modernization of environmental facilities and equipment. The program includes the construction and rehabilitation of landfills, installation of modern technology and equipment for processing oil sludge and dealing with oil spills at subsidiaries, as well as the installation of new purification equipment and reconstruction of equipment that is already in place. The Rosneft operating expenditures on environmental protection in 2010 were RUB 6.8 bln ($210 Million), investment was RUB 6.5 bln ($201 Million). Contact: Man Oil Group AG Bleichistrasse 8 6300 Zug, Switzerland Tel.: +41 41 500 16 90 Fax: +41 41 500 16 91 ir@manoilgroup.com Disclaimer: This notice constitutes neither an offer to sell nor a solicitation of offers to purchase or subscribe to securities. There will be no public offering of securities of Man Oil Group AG in conjunction with the existing listing of its shares in the GXG Markets First Quote (GXGF) on the GXG Markets. This notice does not constitute a securities prospectus. Neither this notice nor the information contained within is intended for direct or indirect distribution within Canada, Australia or Japan. End of Corporate News --------------------------------------------------------------------- 31.07.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------- 223686 31.07.2013