31st Aug 2011 07:00
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 |
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