The company claimed that that it has also received a Letter of Intent (LOI) from Imperial Energy to build and install two APG plants at Imperial Energy’s oil fields in Tomsk, Russia which could add a further $20m to Globotek revenues over the 10 year life of the oil field.
Associated Petroleum Gas (APG) is a by-product of crude oil extraction and its flaring currently accounts for approximately 400 million tons of harmful greenhouse gas emissions into the atmosphere every year. APG flaring has far reaching effects on the environment, public health and the economy, the company said.
Dmitry Lukin, CEO of Globotek, said: “We are very pleased that ENL and Imperial Energy have chosen Globotek technology as their preferred solution to APG flaring. These will be the first of several installations in what we are anticipating to be long term partnerships with these prestigious international companies.”
Imperial Energy is a wholly owned subsidiary of ONGC Videsh, a subsidiary of the flagship national oil company of India that operates upstream drilling and exploration activities in Western Siberia in addition to its operations across 18 countries globally.
