Greka Engineering & Technology Ltd Operations Update (3084O)
February 08 2016 - 1:00AM
UK Regulatory
TIDMGEL
RNS Number : 3084O
Greka Engineering & Technology Ltd
08 February 2016
8 February 2016
Greka Engineering & Technology Ltd
("Greka Engineering" or the "Company")
Operations Update
Greka Engineering & Technology Ltd. (AIM:GEL), the
unconventional gas sector engineering and technology business with
pipeline, gas compression and power generation assets in China, is
pleased to announce the following operations update for the year
ended 31 December 2015.
Gas Compression
Full year 2015 gas processed was 1.4 Bcf (40 million cubic
metres), as compared to 1.1 Bcf in 2014 (31.6 million cubic
metres), of which:
-- Delivered volumes were 1.2 Bcf (35 million cubic metres), as
compared to 0.98 Bcf in 2014 (27.7 million cubic metres)
-- Consumed volume for power generation was 0.2 Bcf (4.9 million cubic metres)
Power Generation
A total of 17,160 Mwh was generated in FY2015 which was 13,853
Mwh in 2014 and consisted of:
-- 13,361 Mwh of sales in FY2015 (2014 10,916Mwh) and 3,799 Mwh was utilized for operations
Infrastructure
-- 27 km of gas gathering pipelines were constructed bringing a total of 68 km at year end
-- 8 km of power lines built in 2015 expanding power network to 80 km
Manufacturing
-- Total sales of 47 gas station refueling equipment items in 2015
-- 10 SCADA systems were sold in 2015
Health, Safety and Environment
-- No lost time due to injury or accident in 2015 across the 4 divisions
-- 192,752 hours of incident free man hours recorded as of yearend 2015
Randeep S. Grewal, Executive Chairman of Greka Engineering,
commented:
"Greka Engineering continues its gradual expansion of the
infrastructure as called upon from its clients. We continue to be
focused on creating a 'one-stop-shop' to the many entrants in to
the sector while concurrently committed to expanding our
technological solutions within the unconventional gas production
and distribution niche."
Contacts:
Greka Engineering
Betty Cheung, Director Corporate Affairs +852 3710 0088
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Smith & Williamson
Nominated Adviser and Broker
Dr Azhic Basirov / David Jones / Ben Jeynes +44 (0)20 7131 4000
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About Greka Engineering & Technology
Greka Engineering & Technology Ltd., (AIM; GEL) was demerged
from Green Dragon Gas Ltd. (AIM: GDG) via a dividend in specie and
was admitted to trading on AIM in September 2013.
Greka Engineering offers turnkey solutions to over 100 upstream,
midstream and downstream gas suppliers. The Company's technologies
include Compressed Natural Gas/Liquefied Natural Gas (CNG/LNG)
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 on Greka Engineering, please visit the
Company's website at: www.grekaengineering.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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