DGAP-News: MAN OIL GROUP COMMENCES OIL-WASTE TREATMENT IN SIBERIA
DGAP-News: MAN OIL GROUP AG / Key word(s): Miscellaneous
MAN OIL GROUP COMMENCES OIL-WASTE TREATMENT IN SIBERIA
31.07.2013 / 17:30
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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
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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.
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