PEMEX to use ProSep's proprietary desalting technology
MONTREAL, Sept. 10 /CNW/ - ProSep Inc. (TSX: PRP), dedicated to providing
process solutions to the oil and gas industry, announced today that it has
signed a contract valued at $1.1 million (US) with PEMEX, Mexico's oil and gas
company and the eleventh largest integrated national oil company in the world.
ProSep will provide its proprietary ProSalt Mixer System that facilitates the
separation of water and crude oil while ensuring the removal of corrosive salt
content from process equipment.
"By now offering a blend of proprietary and traditional separation
technologies, ProSep is better positioned to address the production
requirements of new and existing customers," said Jacques L. Drouin, President
and CEO of ProSep Inc. "This product-focused strategy is helping us to gain
market share and reduce sales volatility."
ProSep expects to deploy its ProSalt Mixer System at PEMEX's facilities
in Dos Bocas, Mexico by December 2008. The ProSalt Mixer System delivers
significant benefits to upstream oil and gas companies. In addition to
increased treatment capacity, ProSep's technology reduces wash water
requirements as well as limiting oil in water content.
With this contract award, ProSep's sales backlog currently totals
$35 million (CDN).
About ProSep Inc.
ProSep Inc., formerly known as TORR Canada Inc., is dedicated to
providing process solutions to the oil and gas industry. ProSep designs,
develops, manufactures and commercializes technologies to separate oil, water
and gas generated by oil and gas production. For more information, please
Caution concerning forward-looking statements
This press release contains forward-looking statements. Such statements
inherently involve numerous risks and uncertainties. Actual future results may
differ from the anticipated results expressed in the forward-looking
statements contained in this press release and ProSep does not undertake to
update this information. Investors are cautioned against placing undue
importance on forward-looking information contained herein and should consult
the final short form prospectus and the documents incorporated by reference
therein, which contain a more exhaustive analysis of risks and uncertainties
connected to ProSep's business.
For further information:
For further information: ProSep Inc., Jacques L. Drouin, President &
CEO, (514) 522-5550 ext. 226, firstname.lastname@example.org; The Equicom Group Inc.,
Joe Racanelli, (416) 815-0700 ext. 243, email@example.com