TORR Canada Awarded Contracts for $1.6 Million Including a Water Treatment System for Statoil
Posted on: Monday, 19 November 2007, 12:00 CST
MONTREAL, Nov. 19 /PRNewswire-FirstCall/ -- TORR Canada Inc. (TSX: TOR) ("TCI" or the "Company"), dedicated to providing innovative process solutions to the Oil & Gas industry announced today that it has sold a CTour water treatment system that will be installed on a Statoil AS offshore platform.
TCI's Norwegian division, ProPure AS, has been awarded a contract to supply Fabrikom, a Suez Group Company, with a CTour Produced Water Treatment process solution which will be installed on Statoil's Snorre Redevelopment Project on the Norwegian Continental Shelf. The estimated value of the contract is $1.1 million and delivery is expected to occur in mid 2008.
TCI's American division, ProSep, based in Houston, was also awarded a contract to supply BOG CONS Ltd., a small international Oil and Gas producer with a gas membrane system to be installed in Turkey, worth approximately $500,000.
"Having another CTour system installed on a Statoil topside facility is an important recognition of the potential of our produced water treatment technology. In addition to being an important shareholder of TORR Canada, Statoil is also a repeat customer." said Jacques L. Drouin, President and CEO of TORR Canada. "I am also pleased by our American division's performance as it continues to experience strong sustainable growth in an expanding sector of the Oil and Gas industry."
TCI is dedicated to providing solutions to the oil and gas industry. TCI designs, develops, manufactures and commercializes technologies to separate oil, water and gas generated by oil and gas production. For more information, please visit http://www.torrcanada.com/. TCI recently acquired Pure Group AS of Norway.
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 TCI 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 TCI's business.
TORR Canada Inc.
CONTACT: TORR Canada Inc.: Jacques L. Drouin, President & CEO, (514)522-5550, ext. 226, jdrouin@torrcanada.com; The Equicom Group Inc.: DanielleSte-Marie, (514) 844-6064, dste-marie@equicomgroup.com
Source: PRNewswire-FirstCall
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