ProSep Inc.
TSX : PRP

ProSep Inc.

December 02, 2011 08:00 ET

ProSep Awarded $1.4 Million Contract From Schlumberger for Produced Water Treatment Technology

MONTREAL, QUEBEC--(Marketwire - Dec. 2, 2011) - ProSep Inc. (TSX:PRP) ("ProSep" or the "Company"), dedicated to providing process solutions to the oil and gas industry, today announced it was awarded a $1.4 million contract to supply M-I Swaco, a Schlumberger Company, with a proprietary CTour® produced water treatment system, for installation on an offshore platform operating on the Norwegian Continental Shelf. The Ctour® has been field tested and installed on 25 offshore platforms in the North Sea and now treats almost 2mbpd of produced water, allowing producers to meet the world's strictest overboard discharge regulation.

"The CTour® process is one of the only technologies in the world that can cost-effectively remove both dispersed and dissolved hydrocarbons from large volumes of produced water," said Jacques L. Drouin, President & CEO.

The CTour® process is a step change technology in the treatment approach for produced water and has served as a vehicle in facilitating "Zero Harmful Discharges" legislation in the North Sea. The process utilizes ProSep's proprietary injection and mixing technology to inject a condensate of light hydrocarbons, directly into the produced water stream. Installed upstream a hydrocyclone or gas flotation unit, it can yield produced water discharges containing less than 3 ppm total petroleum hydrocarbons and removes 90-95% of dangerous dissolved polycyclic aromatic hydrocarbons components.

About ProSep

ProSep is a technology-focused process solutions provider to the upstream oil and gas industry. ProSep designs, develops, manufactures and commercializes technologies to separate oil, water and gas generated by oil and gas production. For more information, please visit www.prosep.com.

Caution concerning forward-looking statements

This press release may contain forward-looking statements, including statements regarding the business and anticipated financial performance of ProSep Inc. These statements are based, among others, on the Company's current assumptions, expectations, estimates, objectives, plans and intentions regarding projected revenues and expenses, the economic and industry environments in which the Company operates or which could affect its activities, the Company's ability to attract new clients and consumers as well as its operating costs, raw materials and energy supplies which are subject to a number of risks and uncertainties. Forward-looking statements can generally be identified by the use of the conditional tense, the words "may", "should", "would", "believe", "plan", "expect", "intend", "anticipate", "estimate", "foresee", "objective" or "continue" or the negative of these terms or variations of them or words and expressions of similar nature. Actual results could differ materially from the conclusion, forecast or projection stated in such forward-looking information. These statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from those contemplated by the forward-looking statements. Some of the factors that could cause such differences include but are not limited to the Company's ability to develop, manufacture, and successfully commercialize value added equipments and services, the availability of funds and resources to continue its operations and pursue its projects, legislative or regulatory developments, competition, technological change, changes in government and economic policy, inflation and general economic conditions in geographic areas where ProSep Inc. operates. These and other factors should be considered carefully and undue reliance should not be placed on the forward-looking statements.

Contact Information

  • ProSep Inc.
    Investor Relations and Media:
    Danielle Ste-Marie
    VP Marketing and Communications
    (514) 522-5550 ext. 238
    dste-marie@prosep.com