13th Nov 2013 12:39
LONDON (Alliance News) - Technology and engineering company Corac Group PLC said Wednesday that it had received a further order of USD1.4 million from BP Trinidad & Tobago LLC for the design and engineering phase of its project.
The project is to develop a compact gas compressor that will be used for deployment on an offshore production platform. This order brings the total value secured by Corac on the project to USD2 million.
The company expects this order to be completed in early 2014, and anticipates that it will receive further orders to progress the project towards building and testing.
Shares in Corac were trading up 1.7% at 11.70 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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