Greka Engineering & Technology Ltd Contract with CUCBM
August 13 2015 - 1:01AM
RNS Non-Regulatory
TIDMGEL
Greka Engineering & Technology Ltd
13 August 2015
13 August 2015
GREKA ENGINEERING & TECHNOLOGY LTD
("Greka Engineering" or the "Company")
Contract with CUCBM
Greka Engineering & Technology Ltd. (AIM: GEL), an
unconventional gas sector engineering and technology business with
pipeline, gas compression and power generation assets in China, is
pleased to announce that the Company has entered into a
construction contract (the "Contract") with China United Coalbed
Methane Corporation, Ltd. ("CUCBM"), the state-owned Chinese
coalbed methane company.
The contract is to modify the power facilities of four valve
groups for the purpose of connecting and powering 56 CUCBM wells
and follows the successful pilot program to connect one valve group
to power 10 of CUCBM's wells which completed in 2014. Under the
Contract, Greka Engineering will be responsible for power line
construction and support equipment installation. The Contract
requires that the work be completed by no later than 31 December
2015 and is expected to result in the ongoing supply of power by
Greka Engineering to the connected wells.
Randeep S. Grewal, Chairman of Greka Engineering, commented:
We are pleased to see the development of our relationship with
CUCBM. With over 1,500 wells ultimately requiring connections to
power grids at the GSS block, this represents an excellent growth
opportunity for the Company, which should both expand our
engineering footprint and contribute to the Company's profitability
this year and beyond.
Contacts:
Greka Engineering
Randeep Grewal, Chairman +852 3710 0168
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Smith & Williamson
Nominated Adviser
Dr Azhic Basirov / David Jones / Ben Jeynes +44 20 7131 4000
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WH Ireland
Broker
Tim Feather +44 113 394 6600
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Walbrook + 44 20 7933 8780
Media & Investor Relations get@walbrookpr.com
Paul Cornelius / Guy McDougall
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About Greka Engineering and Technology
Greka Engineering & Technology Ltd., (AIM; GEL) was demerged
from Green Dragon Gas Limited (AIM; GDG) via a dividend in specie
and was admitted to trading on AIM in September 2013.
Greka Engineering offers turnkey solutions to over 90 upstream,
midstream and downstream gas suppliers. The Company's technologies
include Compressed Natural Gas/Liquefied Natural Gas (CNG/NLG)
compressor equipment, CNG retail dispenser equipment and CBM
wellhead extraction technologies. The Company also supplies
proprietary Integrated Circuit Card Point of Sale (ICC POS) and
Supervisory Control and Data Acquisition (SCADA) software and
hardware solutions for the remote management of transmission
systems, power facilities, vehicle management and retail
services.
In addition, the Company invests in, operates and maintains
wholly owned assets for its customers in return for service
contracts based on the volume management.
The Company has historically completed several Engineering,
Procurement, Construction and Management (EPCM) contracts including
the design, construction and management of gas gathering systems, a
gas pipeline in Shanxi Province to the China West-East pipeline,
the installation and commissioning of a 10MW gas-fired power
facility in the Shanxi province and the construction of CNG retail
stations.
For more information of Greka Engineering, please visit the
company website at: www.grekaengineering.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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