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Major Offshore Contract in Brazil

31st Aug 2011 07:00

RNS Number : 2730N
Nature Group PLC
31 August 2011
 



Nature Group PLC

31 August 2011

 

 

 

NATURE GROUP PLC

 

("Nature" or the "Group")

 

Nature Group awarded major Offshore contract in Brazil

 

Nature Group PLC (AIM:NGR), a provider of port reception facilities and waste water treatment solutions for the oil, marine and process industries, is pleased to announce that it has been awarded a major contract for the offshore treatment of waste oil slops generated on board a FPSO (Floating Production, Storage and Offloading vessel), employed by one of the oil majors off the coast of Brazil.

 

This contract underpins the ongoing efforts in marketing Nature's CTU (Compact Treatment Unit) technology into the Oil & Gas market. The contract further demonstrates the synergies of the integration of ISD (International Slop Disposal, acquired by Nature in December 2010) from Rotterdam in terms of marketing and commercial contacts in the Oil & Gas sector.

 

The contract is for the treatment of oil waste currently collected on the FPSO and ensures the oil major a substantial cost saving compared to onshore treatment. Nature's solution also ensures that all recovered oil can be re-used by the oil major. It is the second new contract for Nature's CTU technology within a month and both underwrites the Nature proposition and boosts Nature's mobile treatment activities, developed in Norway and now globally marketed by the Group. Nature is confident its CTU technology will contribute to the continued growth of Nature's revenues and activities in the Oil & Gas market.

 

The value of the contract cannot be disclosed, but the contract will contribute significantly to a positive return for Nature's Oil & Gas division, following on from the recently announced contract in Norway. Nature expects to treat up to 50.000M3 of contaminated oil/water with its CTU during a period of at least 4 months on board the FPSO.

 

Andreas Drenthen, CEO of Nature, comments "this contract is further proof of the original concept and continuously developing technology of our Compact Treatment Units and I am convinced that other companies will now start to reconsider their business models for treating their waste on site rather than in the conventional way, by expensively shipping to onshore locations"

 

For further information please contact:

 

Nature Group Plc

Richard Eldridge 

Chairman

Tel 0044 1841 533611

Bernard Muller

Deputy Chairman

Tel 0031 653 30 5775

Andreas Drenthen

CEO 

Tel 0031 181 291144

Peter Snell

FD 

Tel 0044 7000 892481

Northland Capital Partners

(Nominated Adviser)

Shane Gallwey

Tel 0044 2077 968800

Rod Venables

Tel 0044 2077 968800

WH Ireland

(Broker)

Sebastian Wykeham

Tel 0044 2072 200473

Ruari McGirr

Tel 0044 2072 201666

Hermes Financial PR

Chris Steele

Tel 0044 7979 604687

Trevor Phillips

Tel 0044 7889 153628

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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