October 14, 2008
Telvent to Implement Its SCADA System At Petroproduction’s Main Control Center
* Ecuador's state-owned oil exploration company will optimize production, enhance security and reduce environmental impact * Project value totals over 13 million euros
MADRID, Spain, Oct. 14, 2008 (GLOBE NEWSWIRE) -- Telvent (Nasdaq:TLVT), the IT company for a sustainable and secure world, announced today that it will implement its SCADA OASyS system in the main control center and production centers, of Petroproduction, Ecuador's state-owned oil exploration company, located in the Amazon district. The project is worth more than 13 million euros.
This system will enable Petroproduction to centralize management of its installations through one main control center located in Lago Agrio. This center will be connected to various systems distributed among the different substations, generation centers and oil production stations. Telvent will handle preliminary and detailed engineering, development of the SCADA OASyS control system, implementation and testing, as well as operational start-up. Telvent will also be in charge of the geographical information applications and personnel training.
Petroproduction, a subsidiary of Petroecuador, focuses its activity in the eastern region of Ecuador. Current production is estimated at 62 million barrels of crude oil per year, equivalent to an average totaling over 170,000 barrels daily, enough to meet the supply for daily consumption of countries like Bulgaria or Hungary.
Use of the SCADA OASyS system in the main control center will allow Petroproduction centralized and real-time monitoring and control of its operations, as well as enabling detection and remedial action associated with potential leaks as well as enhanced security levels for information access. This will result in greater efficiencies in the extraction, transportation and production of crude oil as well as overall security improvements. In turn, this will result in more efficient use of resources, while reducing the harmful effects on the environment caused by potential crude oil leaks thus increasing the overall sustainability of the system.
According to Camilo Delgado Montenegro, Vice President of Petroproduction, "This project holds high strategic value for the State of Ecuador, as it will optimize and control oil production, and automate the operation of the company's own distribution and generation electrical power system."
In turn, Manuel Sanchez, Telvent's Chairman and Chief Executive Officer, highlighted the close working relationship with Petroproduction, "in providing a set of applications, solutions and products that will enable better performance and security for the company's systems, while reducing global impact on the environment at the same time."
Telvent has been present in Latin America since 1990. Noteworthy among the most relevant projects the company has executed in the region are the SCADA systems for gas and oil pipeline management for Transportadora de Gas del Peru, Lima and Callao Natural Gas, and OCP Ecuador.
Telvent (Nasdaq:TLVT) is a unique global company listed on the NASDAQ Stock Exchange and a component of the CleanTech Index(tm) -- the first, and only, stock market index of leading clean technology ("cleantech") companies.
Telvent, the IT company for a sustainable and secure world, specializes in high-value-added products, services and integrated solutions in the Energy, Transportation, Environmental and Public Administration industry segments, as well as Global Services. Its innovative technology and proven experience help ensure secure and efficient management of the operating and business processes of the world's leading companies. (www.telvent.com)
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CONTACT: Telvent GIT S.A. Investor Relations Contact Barbara Zubiria +34 902 335599 [email protected] Grayling Global Investor Relations Contact Lucia Domville +1 646 284 9416 [email protected] Abengoa Communications Department Contact Patricia Malo de Molina +34 954 93 71 11 [email protected]