Linde AG

  • WKN: 648300
  • ISIN: DE0006483001
  • Land: Deutschland

Nachricht vom 14.01.2016 | 15:00

Linde AG: PEMEX extends contract for nitrogen supply with Linde (news with additional features)

DGAP-News: Linde AG / Key word(s): Contract/Investment

2016-01-14 / 15:00
The issuer is solely responsible for the content of this announcement.


PEMEX extends contract for nitrogen supply with Linde

- Contract runs through 2027

- Largest nitrogen plant in the world: Linde now supplies 1,500 million cubic feet per day for enhanced oil recovery (EOR) in the Gulf of Mexico

Munich/Murray Hill, 14 January 2016 - The technology company The Linde Group has signed a contract with PEMEX Exploración y Producción (PEP), a subsidiary of Petróleos Mexicanos (PEMEX), to extend its supply of high-pressure, high-purity nitrogen to PEMEX's oil reservoirs in the Gulf of Mexico through 2027. Compañía de Nitrógeno de Cantarell, SA de CV (CNC), the local Linde affiliate, is now supplying a total of 1,500 million cubic feet (50,000 metric tons) of nitrogen per day from its facility near Ciudad del Carmen in the State of Campeche to maintain pressure at the Cantarell and Ku Maloob Zaap oil reservoirs.

"We have been providing uninterrupted nitrogen to the Cantarell project since the year 2000 and are proud to be a trusted business partner of PEMEX in one of the world's largest EOR projects," said Tom Blades, member of the Executive Board of Linde AG.

"We've continually upgraded our facilities and added new capacity to keep up with PEP's oil production demands," said Pat Murphy, president of Linde Americas. "Our facility is now the largest nitrogen plant in the world."

In the coming months and years, Linde plans to upgrade and improve its facilities continually. Linde's capital investments will ensure and maintain reliability of its nitrogen supply, thereby helping PEMEX to optimize oil production and meet its goal of recovering 800 million barrels of oil during the next eleven years using the EOR process.

The nitrogen at the Linde plant is produced in five air separation units, using atmospheric air as input to an ultra-low temperature cryogenic process that separates the pure nitrogen from the oxygen and other minor components. The nitrogen is subsequently pressurized for delivery via steel pipelines over 60 miles (100 kilometers) to the PEMEX off-shore fields.

In the 2014 financial year, The Linde Group generated revenue of EUR 17.047 bn (USD 17.9 bn), making it the largest gases and engineering company in the world with approximately 65,500 employees working in more than 100 countries worldwide. The strategy of The Linde Group is geared towards long-term, profitable growth and focuses on the expansion of its international business with forward-looking products and services. Linde acts responsibly towards its shareholders, business partners, employees, society and the environment - in every one of its business areas, regions and locations across the globe. The company is committed to technologies and products that unite the goals of customer value and sustainable development.

For more information about The Linde Group, go to www.linde.com

Further information:

 
Media relations
Stefan Metz
Phone +49.89.35757-1322
 
Amy Ficon
Phone +1.908-771-1491
 
Investor relations
Dr Dominik Heger
Phone +49.89.35757-1334
 
Bernard Wang
Phone +49.89.35757-1328


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Additional features:

Picture: http://newsfeed2.eqs.com/Linde/428717.html
Subtitle: Linde's air separation units at Cantarell, Mexico


2016-01-14 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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