MAN OIL GROUP AG
Tests confirm industry record for Man Oil Group AG’s innovative oil sludge treatment process
MAN OIL GROUP AG / Key word(s): Miscellaneous Tests confirm industry record for Man Oil Group AG's innovative oil sludge treatment process Zug, Switzerland, May 8, 2012 – Man Oil Group AG ('MOG'), a specialist in eco-friendly oil-sludge cleaning and treatment based in Switzerland, announces highly positive analysis results for oil sludge processed with a STORM-15 machine, one of MOG's proprietary developments, installed at TNK-BP's main refinery in Lisichansk, Ukraine. The results of the analysis, which were independently verified, show that MOG's STORM-15 machine achieved a processing capacity of 15m³/h, an industry record. The results also furnished proof of the process ensuring a high level of separation into hydrocarbons, soil and water. – The recovered hydrocarbons contained: 0.2% water and 0.047% mechanical admixtures. – The recovered water contained: 0.0018% hydrocarbons and 0.0016% mechanical admixtures. In summer 2011, Man Oil Group was awarded its first major contract by TNK-BP, a joint venture between the Russian Tumen Oil Company and British Petroleum (BP). The contract has an initial project value of USD9m for the first phase during which MOG will work on an oil-sludge reservoir of 60,000 tons. One of the key selection criteria in the tender process leading to the contract award was a guaranteed high capacity of environmentally friendly processing. Now TNK-BP's Ukrainian refinery officially confirmed that: – MOG fulfilled its obligations to launch the project on time and started processing off-quality petroleum products at the Lisichansk refinery; – the industrial site had been properly prepared and received all necessary STORM-15 equipment, whose complex installation remained within the agreed time schedule; – the post-processing product was treated to yield results in compliance with the contract. Alexandr Potemkin, designated Vice President of Man Oil Group AG, commented: 'Man Oil Group's mission is all about delivering the best quality product on the market, on time, at the right price and in an environmentally friendly way – that is what clients are looking for and that is what Man Oil Group has delivered to TNK-BP, a multi-national company with very high HSE standards. As proven by the analysis, MOG's cutting-edge solutions can achieve the highest possible performance in refining, which goes to further endorse the decision made by TNK-BP to choose our STORM-15 solution.' – The end –
Contact: Man Oil Group AG, Seestrasse 5, 6300 Zug, Switzerland t.: +41 41 500 16 90 – e-mail: ir@manoilgroup.com
MOG AG: – Man Oil Group is a Swiss company that offers complex treatment of oil sludge and oil-contaminated soils on an industrial scale; its bio-remediation technology facilitates the separation and recovery of up to 95% of hydrocarbons. The treatment method is designed to be environmentally friendly. Man Oil Group has operations in Russia, Ukraine, Kazakhstan and Azerbaijan. The technological solutions and reagents used in the recycling process have been developed by Man Oil Group in cooperation with the Ukrainian Institute for Soil Science and Agrochemistry. – The shares of Man Oil Group AG were admitted to trading on the Frankfurt Stock Exchange on July 13, 2011. STORM-15: – STORM-15 is a cost-effective and environmentally friendly technological solution for the upstream/downstream-market-treatment of oil waste, efficiently processing even heavy oil sludge types. Its technology was developed in the course of three years of research and development at the company's scientific laboratories and engineering bureaus, working with leading international industry experts. – STORM-15 machinery can be tailored to individual customer requirements and the particular features of each site. The machinery's flexible, automated control system minimizes human intervention and delivers results in line with pre-agreed and installed parameters. The TNK-BP Contract: – Man Oil Group AG was awarded its first major contract by TNK-BP following a tender process in which one of the key selection criteria was a guaranteed high capacity of eco-friendly processing. – In March this year Man Oil Group commenced the shipment of the STORM-15 machine to TNK-BP's refinery in Lisichansk, Ukraine, and commenced the pre-commissioning work on site.
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168598 08.05.2012 |