2014

Valerus Awarded Contract By Cardon IV In Venezuela For Gas Conditioning And Condensate Stabilization Facility Plant Will Boost Venezuela's Gas Production by as Much as 300 MMcf/d

HOUSTON, Nov. 21, 2013 /PRNewswire/ -- Valerus (www.valerus.com), one of the world's leading providers of oil and gas handling services and equipment, has been awarded a contract to provide engineering, procurement and construction for a natural gas conditioning and condensate stabilization facility in Venezuela. Under the terms of the agreement, Valerus will perform the process design and fabricate the process equipment. Construction of the facility will be executed by Consorcio La Perla, a consortium between Valerus Venezuela and Lindsay Venezuela. The 300 million cubic feet per day (MMcf/d) plant will process natural gas for Cardon IV, a joint venture between EniSpA and Repsol SA to develop and produce non-associated dry gas resources at the La Perla field offshore Venezuela.

(Photo: http://photos.prnewswire.com/prnh/20131121/DA20669)

The equipment that Valerus will provide includes more than 3,200 horsepower of compression; a Joule-Thomson (J-T) plant for extracting valuable natural gas liquids; condensate stabilization; power generation and distribution; and station instrumentation and controls. Much of the equipment will be skid mounted to enable more efficient delivery and installation. Lindsay Venezuela will provide local construction resources, leveraging their 20 years of experience in oil and gas facilities installation in Venezuela. 

"Valerus is proud to have been awarded a contract that will provide strategic energy infrastructure in Venezuela," said Pete Lane, CEO for Valerus. "Our track record for speed to market, operational excellence and superior safety ensure we meet our customers' requirements in Latin America and around the world. We will also leverage local talent of Valerus and Lindsay to execute this world-class project."

About Cardon IV

Cardon IV is the license holder and operator of the Cardon IV block offshore in the Gulf of Venezuela since 2006. During 2009 it announced the discovery of the multi-tcfPerla natural gas field, which is currently under development. More information is available at www.repsol.com or www.eni.com.

About Valerus

Valerus is a worldwide leader in integrated oil and gas handling and processing. Products and services include reciprocating compressor packages, production equipment, gas processing solutions, liquid separation systems and a variety of professional field services. Its mission is to develop tailored solutions for its customers by combining the most experienced people with innovation and quality equipment. Valerus is committed to achieving the highest standards in health, safety and environmental responsibility. More information is available at www.valerus.com.

About Lindsay Venezuela

Lindsay is an oil and gas industry leader in the development of customized, integrated EPC projects. Lindsay has provided procurement and fabrication services in Venezuela since 1995, and has offices and manufacturing facilities in Houston, Texas, established in 2003. The company has vast construction experience, having installed more than 800,000 HP of gas compression equipment including gas processing facilities, early production and offshore installations. Lindsay is ISO 9001 certified and is committed to implementing high standards in the industry.  More information is available at www.lindsay.com.ve and www.lindsaycausa.com

CONTACT:
Chris Wailes or Victoria Turek
cwailes@piercom.com 
vturek@piercom.com 
Pierpont Communications
Houston, Texas
713.627.2223

SOURCE Valerus



RELATED LINKS
http://www.valerus.com
http://www.repsol.com
http://www.eni.com
http://www.lindsaycausa.com

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