Earth Corp. Signs C$4.4M Contract for the Triton FPSO in the North Sea
EARTH Corp. recently announce it has sold a TORR system and a supply contract for RPA cartridges to Wood Group, a large Engineering, Procurement & Construction firm, that provides a range of offshore services to Amerada Hess, a major Oil & Gas producer and operator.
The TORR system will be installed on the Amerada Hess operated Triton Floating, Production, Storage and Offloading vessel located in the North Sea, for the polishing treatment of produced water, as part of its overall environmental management and regulatory compliance strategy.
Reducing the oil content in Produced Water to very low levels in repeated tests carried out onsite in the North Sea confirms the potential for EARTH's technology to address the Oil & Gas industry's challenges. Industry metrics estimate that three barrels of formation water is produced for every barrel of oil on a global basis. This number rises substantially for maturing production areas such as the North Sea. Also, the pending regulatory changes coming in during 2006 as part of OSPAR, the convention for the reduction of oil released into open water in the North Sea, position EARTH's technology as a potential leading solution to the problem.
"The TORR system is the latest available technology to assist producers in complying with the new discharge regulations in the North Sea. EARTH has performed several tests on offshore platforms in the North Sea producing significant results. After focusing efforts on the Oil & Gas industry as a primary market for our products, EARTH welcomes this contract as validation of commercial viability and of EARTH as a potential partner throughout the Oil & Gas Industry," said Mr. Ferland, President & CEO of EARTH (Canada) Corp.
With a direct sale to Amerada Hess's Triton FPSO facility in the North Sea, EARTH also advances on a near term goal of extending distribution capability. To date EARTH has focused on development of the market for its products, resulting in commercial partnerships with several of the worlds largest oil services firms.