NATCO Group Inc. (NYSE:NTG) today announced that it will provide equipment and technology to the Brazilian-based oil company Petrobras for the large grassroots Refinaria do Nordeste (RNEST) in Pernambuco, Brazil. NATCO’s advanced electrostatic technology known as Dual Polarity® Desalting has been selected for the refinery crude unit, which is intended to refine 200,000 bpd of heavy crude oil and heavy crude oil blends.
The contract, awarded in late third quarter 2008 and valued at nearly US$18 million, is for NATCO to supply four large trains of two-stage crude desalting. NATCO advanced electrostatic technologies are designed to handle heavy crudes, providing the most effective electrostatic field available in the industry to improve desalting performance and provide stable operations, even on the most difficult crudes. The refinery is scheduled for start-up by 2012.
"This important project builds upon our long working relationship with Petrobras to provide the advanced equipment technology solutions for their upstream production needs, and expands to include strategic technology solutions advantageous to their downstream business," said Robert Curcio, Executive Vice President, Integrated Engineered Solutions, NATCO.
NATCO Group Inc. is a leading provider of process equipment, systems and services used in the production of oil and gas. NATCO has designed, manufactured and marketed production equipment and services for more than 80 years. NATCO production equipment is used onshore and offshore, upstream and downstream, in most major oil and gas producing regions of the world.
Statements made in this press release that are forward-looking in nature are intended to be "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and may involve risks and uncertainties. Forward looking statements in this press release relate to contract execution, total value, and bookings. These statements may differ materially from actual future events or results. You should refer to documents filed by NATCO with the Securities and Exchange Commission, including its annual and quarterly reports, which identify significant risk factors that could cause actual results to differ from those contained in our forward-looking statements.
Contacts:
NATCO Group Inc., Houston
VP, Marketing & Communications
Cheryl
Chartier, 713-849-6275
cchartier@natco-us.com
or
VP,
Finance
Andy Smith, 713-849-7796
asmith2@natco-us.com